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IMF to cooperate with Chinese-led AIIB

The head of the International Monetary Fund Christine Lagarde said the IMF would be "delighted" to cooperate with the Asian Infrastructure Investment Bank (AIIB), a Chinese-led development bank, with over 30 international members, with a similar remit as the World Bank.

Ms Lagarde said there was "massive" room for IMF co-operation with the AIIB on infrastructure financing.

The US last week expressed concern over UK support for the development bank, after it became the first western country to apply for membership.

"There will be times when we take a different approach," a spokesperson for Prime Minister David Cameron said about the rare rebuke from the US, the BBC reported.

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