AIIB plans funding projects in Asian countries in local currency

The China-based Asian Infrastructure Investment Bank (AIIB) plans to launch local currency financing in some Asia countries later this year, a measure to reduce cross-border investment risks produced by exchange rate fluctuations.

Rising financing costs and trade tensions could bring challenges to the future's infrastructure financing, which requires more fund from the private sector to join the investment projects, said the bank's President Jin Liqun at a press conference in Beijing on Tuesday.