AIIB, ADB to co-finance more projects this year: ADB president

The Asian Development Bank (ADB) President Takehiko Nakao said on Friday that ADB and the Asian Infrastructure Investment Bank (AIIB) are exploring to co-finance several development projects this year.

"We have been cooperating well," Nakao told Xinhua at the ADB headquarters in Manila.

Nakao said he met with AIIB officials and had "serious discussions about how to do things better in each bank and how we can support the development of (member) countries."

Already, he said ADB and AIIB had four co-financing projects in India, Bangladesh, Pakistan and Georgia.

Nakao said it's good with the AIIB around because "we can now cooperate in these projects for co-financing."

Nakao said ADB officials will make a trip to Beijing to meet with its AIIB counterparts. No date has been set yet for the meeting, he added.