AIIB to start local currency financing

The Asian Infrastructure Investment Bank (AIIB) will conduct financing activity in local currencies in several partner countries. The bank's vice-president Danny Alexander said starting from this July, the bank will begin piloting the local currency financing, in currencies like the Indian rupee and the Indonesian rupiah. Alexander said this is in response to increasing demand from the bank's members, as trade and geopolitical uncertainties bring concerns about currency fluctuations. Mr. Qu Qiang, an assistant director from the International Monetary Institute at Renmin University of China, analyzes the moves of the infrastructure bank.