CCTV Script 31/03/15

— This is the script of CNBC's news report for China's CCTV on March 31, Tuesday.

Welcome to CNBC Business Daily, I'm Qian Chen.

Today is the deadline for countries to apply to become founding members of the Asian Infrastructure Investment Bank (AIIB).

So far, more than 40 countries have applied to be founding members.

But how is it going to make AIIB different from its potentialcompetitors like IMF, the World Bank and ADB?

Analysts say they are expecting a few changes of this new bank.

First of all, it will give developing countries, especially Asian and Latin Amerian developming countries louder voice, as well as more capital funding.

[John Perkins, Author] "I spent a lot of time in Latin America, I spent some time in Asia, and so many these countries today, I heard how upset these countries are, in the way that these banks performed. And now the chinese are coming along, and saying, hey we are going to offer alternative. I think it's an healthy thing. I'm very glad incident that the US has not involved in, now I think we could really create a true institution that really came in for the development, rather than just for corporate interests."

IMF, the World Bank and ADB have all said that they would work with AIIB.

So this will be a way of bringing competition and cooperation together among international organizations.

AIIB' funding, financing...

Analyst said Asian countries need to do more in order to keep money in Asia.

[Curtis Chin, US Ambassador to ADB] "There's a lot of money made in Asia, but it doesn't stay in Asia. It goes back to US Treasuries, it goes to Europe, it's not invested here in the infrastructure, because countries are not doing what they need to do."

Yet, AIIB still faces many challenges ahead, including how to make rules, how to distribute voting powers, etc - those need futher discussions.

However, some analysts still believe AIIB will make a difference.

[John Perkins, Author] "Hopefully, this is a new move to bring a new banking institution to existing system, that won't be too politicized, representing so many different nations, hopefully they will all come together to make all of the construction, the infra development in Asia is environmentally sensitive socially welfit, that's the part that WB has not done. Hopefully we are seeing a new era here."

CNBC's Qian Chen, reporting from Singapore.

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