Minister Zheng Jiwei openly contradict the floor section. Finance Minister Lou Jiwei: I do not recognize best practice, who is the best? Just Takehiko Nakao President also said, the bank needs to further reform, if the best you do not need reform. West sometimes make some rules I do not think is the best. Commentary: In fact, the minister of building answer, in large part, on behalf of the developing countries in Asia dissatisfaction with the existing international financial order. Currently, the world's two major international financial institutions, namely the World Bank and the International Monetary Fund, the United States is the largest contributor in both organizations, have veto power. In Asia, the United States and Japan jointly led by the Asian Development Bank, referred to as ADB. Under the rules, both the World Bank or the Asian Development Bank, to get their loans, should be transparency in government, ideology, and through a variety of requirements for assessment, as well as environmental protection, employment, and other aspects of the bidding. A variety of assessment often take a year or two, not only spend a lot of manpower, material and financial resources, are more likely to delay time. But in addition to harsh conditions, efficiency is not high outside the bigger problem is these financial institutions can not meet the demand. Asian Development Bank Resident Mission in China Chief Representative Ahmed Sharif: According to ADB estimates, the region needs investment of $ 800 billion a year, but the ADB (Asian Development Bank) that provides only 5%. Thus, many Asian countries have recognized the need to raise more money and resources into infrastructure construction. From this establishment AIIB significant. Commentary: demand is the investment of $ 800 billion, but only provide 5% of the ADB, the huge gap in data media today continue to be lifted, but this is only an average per year gap. According to the Asian Development Bank forecast: 2010 to 2020, only the infrastructure of the Asia-Pacific region, we need to invest more than 80,000 billion dollars, while the existing multilateral development institutions is clearly difficult to meet. In fact, due to the large capital investment, long construction period, financing infrastructure, their own power alone countries, indeed difficult to solve. Establish Asian Infrastructure Investment Bank, it is obviously a very right thing, go with Asia
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