Cambodian PM says AIIB very attractive to countries in Europe

PHNOM PENH -- Cambodian Prime Minister Hun Sen said Wednesday that the China-proposed Asian Infrastructure Investment Bank (AIIB) is very attractive to rich countries, particularly in Europe.

The prime minister's remarks came after Germany, France and Italy followed the suit of Britain in deciding to join AIIB as founding members.

"These are rich countries in Europe, so AIIB's capital will be bigger," Hun Sen said during a ground-breaking ceremony for the construction of a road in Banteay Meanchey province, adding that Cambodia is one of the co-founders of the AIIB.

He said the AIIB will play a complementary role to the Asian Development Bank or the World Bank.

"AIIB will be beneficial to developing countries which need capital for infrastructure development," he said.

Meanwhile, the prime minister said BRICS (Brazil, Russia, India, China and South Africa) Development Bank and China's Silk Road Fund will also play a very important role to provide financial support to developing countries.