The UN General Assembly on Thursday granted the status of observer to two development banks both headquartered in China and founded only years ago.

 

联合国大会周四授予两家总部设在中国且建立不久的发展银行观察员地位。

 

In two separate resolutions adopted by the assembly, the Asia Infrastructure¹ Investment Bank (AIIB) and the New Development Bank (NDB), initiated² by China and the BRICS group respectively, became observers to the UN's most inclusive body.

 

Through their new status, the two banks are in a better position to communicate and cooperate with the UN and contribute to achieving the sustainable development goals set by the world organization, said Ma Zhaoxu, the Chinese permanent representative to the UN.

 

As the host country of the two banks, China put forward the draft resolutions and led the effort toward their adoption³.

 

The process, Ma said, has demonstrated China's determination and responsibility to adhere to multilateralism and implement⁴ the 2030 Sustainable Development Agenda of the UN.

 

Gerard Sanders, a general counsel of the AIIB, said the bank's charter recognizes the need to work with other institutions that have "a best interest in development," both in terms of forming policy objectives and delivering individual projects.

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