World Bank, IMF will work with new lender

Leaders of the World Bank and International Monetary Fund said on Thursday that their institutions are ready to cooperate with China and the Asian Infrastructure Investment Bank.

"Our expectation is that we will continue to have a very close relationship and we will work with China to tackle the most complex and difficult issues," said World Bank President Jim Yong Kim at a news conference to mark the World Bank/IMF Spring Meetings 2015 running from Friday to Sunday in Washington.

"I first of all want to congratulate China for taking such a bold step in the direction of multilateralism," Kim said.