Infrastructure development can't be done locally, says AIIB

The panel stressed on the importance of both hard and soft infrastructure to boost cross-border trade and relations

Infrastructure development cannot be done locally and multilateral development banks can play a huge role here by improving connectivity between countries, said panellists at third annual meeting of the Asian Infrastructure Investment Bank (AIIB).

The panel, which comprised of senior finance ministers in Asia and senior executives of multilateral development banks, stressed on the importance of both hard and soft infrastructure to boost cross border trade and relations.

“Growing nationalism protectionism is a huge problem and a barrier to cross border facilities,” said D J Pandian, Vice President, AIIB.

“Infrastructure development is not domestic issue. It is easier to be