AIIB's 4th Annual Meeting 2019 in Luxembourg
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AIIB's 4th Annual Meeting 2019 in Luxembourg

Wednesday, 27 June 2018, 04:06 Hrs
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Moving out of Asia first time, the Asian Infrastructure Investment Bank (AIIB)'s Fourth Annual Meeting will be held in Luxembourg in July 2019, an official said here on Tuesday.

Luxembourg is a founding member of AIIB as well as a leading international financial centre and facilitator of investments between Europe and Asia, said AIIB Vice President and Corporate Secretary Danny Alexander.

"European countries have been strong supporters of the creation of the AIIB so it is particularly welcome to have this early opportunity to bring all of the Bank's members to Europe. This will be a great opportunity for public and private sector representatives from around the world to discuss on infrastructure development in Asia and beyond," he said.

Luxembourg Finance Minister Pierre Gramegna said his country was "honoured" to become the first non-regional member of AIIB to host the bank's Annual Meeting in Luxembourg City next July.

The second Asian Infrastructure Forum will be held as part of the 2019 Annual Meeting, the official said.

The first AIIB Board of Governors meeting was held in Beijing in 2016, followed by Jeju, South Korea in 2017 and the latest two-day meeting in Mumbai which concluded here on Tuesday.

Headquartered in Beijing, the AIIB is a multilateral development bank with a mission to improve social and economic outcomes in Asia and beyond.

It commenced operations in January 2016 and has now grown to 87 member from around the world, and invests in sustainable infrastructure and other productive sectors, with India ranking as its biggest borrower.

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Source: IANS
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