The Asian investment infrastructure Bank (AIIB) has chosen Luxembourg as the venue for its fourth annual General meeting (AGM), which will be held from 12 to 13 July 2019.
The decision to hold the next AIIB AGM in the Grand Duchy was announced at its third meeting in Mumbai.
In his address to the governors, the Minister of Finance, Pierre Gramegna, welcomed Luxembourg becoming the first European member of the AIIB to host the annual meeting of the bank. Taking up the AIIB leitmotif “Lean, Clean and Green”, the minister praised the bank’s willingness to apply the highest standards in terms of governance and financing of sustainable infrastructure. He recalled that this approach is perfectly in line with the policy of the Luxembourg government over the past five years, which is committed to transparency while making green finance one of its priorities.
In 2016, Luxembourg was the first non-Asian country to apply and be accepted as a non-regional member by the bank. The objective of this international financial institution is to support the financing of modern infrastructures between the Far East and Europe, while passing through Central Asia and the Middle East. Today, the AIIB has 87 members, with Lebanon joining the bank this year.
Pierre Gramegna also participated, along with Philip Hammond, UK Minister of Finance and Treasury, as speaker at the first Asian Infrastructure Forum (AIF). In his speech on innovative financing for development, he presented the progress made by Luxembourg in the field of fintech and green finance. A second edition of the forum will be held next year in Luxembourg as part of the 2019 Annual Meeting.