BEIJING — The head of the OECD on Friday welcomed major European countries' participation in a new China-backed infrastructure bank, saying it would ensure the institution was run under existing global standards.Britain, Germany, France and Italy have announced their intention to sign up for the Asian Infrastructure Investment Bank, to the consternation of the United States and Japan, which lead the World Bank and the Manila-based Asian Development Bank respectively. “The fact that some of the European countries are now associating with the project makes me even more convinced that it is going to be run in a very professional, transparent way,” said Angel Gurria, secretary-general of the Organization for Economic Co-Operation and Development (OECD). “I don't see that these countries would be joining an institution that would be run otherwise. I don't think anybody's going around with a chequebook just giving cheques,” he added. – Reuters
