Registration was successful!
Please follow the link from the email sent to

Luxembourg Seeks Membership in Asian Infrastructure Investment Bank

© AFP 2021 / Takaki Yajima /POOLDelegates attend a signing ceremony of the Asian Infrastructure Investment Bank at the Great Hall of the People in Beijing. (File)
Delegates attend a signing ceremony of the Asian Infrastructure Investment Bank at the Great Hall of the People in Beijing. (File) - Sputnik International
Subscribe
The Asian Infrastructure Investment Bank (AIIB) is an international financial institution proposed by China.

Tiananmen Square in Beijing, China - Sputnik International
Key EU Countries Join China-Backed Bank Despite US Protests
MOSCOW (Sputnik) — Luxembourg’s Finance Ministry confirmed Tuesday the country's bid to become a member of the Asian Infrastructure Investment Bank.

"I can confirm that Luxembourg has submitted its candidacy to become a prospective founding member of the AIIB,” ministry's spokesman said in phone call with Sputnik news agency.

The Asian Infrastructure Investment Bank (AIIB) is an international financial institution proposed by China. The purpose of the multilateral development bank is to provide finance to infrastructure projects in the Asia-Pacific region.

Commenting on the move, Luxembourg's Finance Minister Pierre Gramegna earlier said that with its adherence to the AIIB initiative his country would be able "to further develop its role as bridge-builder and gateway between the two continents."

He outlined Luxembourg's desire to further extend its commitment towards multilateral aid mechanisms, in particular in the Asia-Pacific region.

Cities of the world. Beijing - Sputnik International
Soft Power: Beijing Offers Seoul to Join AIIB, Reject THAAD Deployment
Earlier today, Italy, France and Germany also officially confirmed joining the $50 billion AIIB as founding members. Last week, the United Kingdom said it was in the country's interest to join the investment bank.

The adherence of more European countries to the AIIB comes despite concerns on the part of Washington. Last week, State Department's spokeswoman Jen Psaki said the United States is concerned by AIIB's governance, environmental and social safeguards.

Gramegna said that Luxembourg will work hard to ensure that the AIIB meets "the highest and most stringent standards in terms of good governance, transparent lending policies, social and environmental safeguards as well as state-of-the-art procurement guidelines."

The new investment bank will be headquartered in Beijing. March 31 is the deadline for accepting founder-members.

 

Newsfeed
0
To participate in the discussion
log in or register
loader
Chats
Заголовок открываемого материала