BEIJING: The president of the Asian Development Bank says a proposed Chinese-led regional bank is a potential partner rather than a rival and the ADB is talking with Beijing to share its experience.

Takehiko Nakao’s comments came after Washington softened its opposition to the Chinese-proposed Asian Infrastructure Investment Bank and suggested it work together with existing entities such the World Bank.

The Manila-based ADB is ready to collaborate with the AIIB if it meets environmental, social and other standards for lending, Nakao said in an interview ahead of Tuesday’s release of his bank’s regional economic outlook.

US officials worry the bank might become an instrument of Chinese foreign policy and undermine the World Bank or other institutions by offering credit with few conditions. “I think we can complement each other,” Nakao said.

China proposed the bank in 2013 to finance construction of roads, ports and other infrastructure. It has pledged to put up most of its initial $50 billion in capital.

Britain broke with Washington last week to announce it wanted to join the Chinese-led bank. France, Germany and Switzerland followed.

The ADB has talked with Chinese officials to share its “knowledge and experience” based on its 50-year history and staff of some 3,000 throughout the region, said Nakao, a former deputy Japanese finance minister.

In its economic outlook, the ADB said this year’s overall growth in developing Asia-Pacific countries should hold steady at last year’s 6.3 percent.