Infrastructure Investment Bank
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Jin Liqun, inaugural president of the Asian Infrastructure Investment Bank (AIIB), smiles as reporters raise their hands to ask for questions during a press conference at a hotel in Beijing on Jan. 17, 2016. (Associated Press) **FILE**

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World Bank President Jim Yong Kim told a Washington forum Tuesday morning that he does not see the proposed Asian Infrastructure Investment Bank (AIIB) as a rival to existing institutions such as the World Bank and the Asian Development Bank, saying the need is far greater than any one institution can meet these days. (Associated Press)

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The Obama administration has been skeptical of the proposed Asian Infrastructure Investment Bank from the start, arguing that it could prove redundant and could undercut lending standards on such issues as worker protections and the environment. (Associated Press)