The interim head of the Chinese-backed Asian Infrastructure Investment Bank is suggesting the new institution is going to be a benefit to world.
Jin Liqun is the secretary-general of the interim multilateral secretariat of the AIIB.
"Statistics from the Asia Development Bank show that from now until 2020, the region's need for infrastructure investment will reach 730-billion US dollars. The existing multilateral global institutions, such as the World bank and the Asian Development Bank, are unable to meet the demand."
The secretary-general also says they have plans to work with the existing multilateral institutions.
The AIIB is also hoping to leverage funding from the private sector to off-set costs.
March 31st has been set as the deadline for countries to join the AIIB.
It's expected that around 35 countries will be founding members by the end of this month.
