Abstract: Large-scale vision-language pretrained (VLP) models like CLIP have shown remarkable performance on various downstream cross-modal tasks. However, they are usually biased towards English due to the lack of sufficient non-English image-text pairs. Existing multilingual VLP methods often learn retrieval-inefficient single-stream models by translation-augmented non-English image-text pairs. In this paper, we introduce mCLIP, a retrieval-efficient dual-stream multilingual VLP model, trained by aligning the CLIP model and a Multilingual Text Encoder (MTE) through a novel Triangle Cross-modal Knowledge Distillation (TriKD) method. It is parameter-efficient as only two light projectors on the top of them are updated during distillation. Furthermore, to enhance the token- and sentence-level multilingual representation of the MTE, we propose to train it with machine translation and contrastive learning jointly before the TriKD to provide a better initialization. Empirical results show that mCLIP achieves new state-of-the-art performance for both zero-shot and finetuned multilingual image-text retrieval task.