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Finance

AIIB teams with European development bank in Central Asia

Jin Liqun of the AIIB, left, and Suma Chakrabarti of the EBRD signed a memorandum of understanding on May 11.

LONDON -- The Beijing-based Asian Infrastructure Investment Bank has agreed to co-finance a road project in Tajikistan, the fledgling bank's second such project on China's strategic Silk Road route.

The China-led bank will partner on the effort with the London-based European Bank for Reconstruction and Development. EBRD President Suma Chakrabarti welcomed the deal, saying he hopes the joint project will be "the first of many."

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