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"The AIIB will be a real booster for Asian economies" - Luxembourg Finance Minister Gramegna at Opening of Asian Infrastructure Investment Bank

Published Tuesday January 19 2016

Luxembourg's Minister of Finance, Pierre Gramegna attended as the official opening ceremony of the Asian Infrastructure Investment Bank (AIIB) on Saturday 16 January 2016 in Beijing.
 
Speaking after Chinese President Xi Jinping and South Korean Deputy Prime Minister Yoo Il-Ho, Minister Gramegna emphasised the importance of investing in infrastructure as a means of moving towards economic growth, and of the potential for coordination between the AIIB and other multilateral banks, such as the European Investment Bank (EIB) which is headquartered in the Grand Duchy. He also outlined the guidelines of the Juncker Plan in Europe, which also highlights infrastructure as a boost to growth. Here the link to his speech:

http://www.gouvernement.lu/5618787/16-gramegna-beijing
 
Pierre Gramegna was calling for the highest standards to be applied in the governance of the AIIB. He also spoke of collaboration with the private sector and the key role relating to international financial centres such as Luxembourg.
Luxembourg was the first country outside Asia to apply for and be accepted as a non-regional member by AIIB. The objective of this new international financial institution is to promote the development of Asian countries in responding to infrastructure needs. The inaugural sessions presented the opportunity to adopt the statues, regulations and internal procedures of the bank and to elect officers before the official commencement of its operations.
 

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