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The Future of Asia 2018

AIIB and ADB say they complement each other rather than compete

Executives stress two banks' role in fighting corruption and boosting transparency

From left, Stephen Groff of the Asian Development Bank; Joachim von Amsberg of the Asian Infrastructure Investment Bank; Yuri Sato of the Japan External Trade Organization; and Masumi Kakinoki of Marubeni speak about infrastructure on June 12. (Photo by Maho Obata)

TOKYO -- Asia's two leading multilateral lenders are not competitors but rather complementary partners in a region whose funding needs are too great for any one source to fill, executives from both banks said at the Future of Asia conference on Tuesday.

"There is a huge need for infrastructure finance, so there is no means of competition," said Stephen Groff, a vice president at the Asian Development Bank, often seen as a rival to the Chinese-led Asian Infrastructure Development Bank.

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