- The Grand Duchy of Luxembourg
- China-Luxembourg relations
- Le Luxembourg, capitale européenne
The Minister of Finance at the first General Assembly of the AIIB in Beijing
Pierre Gramegna, Luxembourg Minister of Finance, attended the first General Assembly of the Asian Investment Bank for infrastructure (AIIB) in Beijing on June 25th and 26th. In recent months, the AIIB concluded cooperation agreements with the European Investment Bank (EIB), based in Luxembourg, as well as with the European Bank for Reconstruction and Development (EBRD) which is currently headed by Mr. Gramegna. It also has approved funding for its first four projects, with a total amount of 509 million US dollars.
During his speech, Pierre Gramegna stressed the complementarity between the different multilateral banks,the interest of the example of Juncker’s plan in Europe and of the cooperation with the EIB in this context, as well as the importance of investments in quality infrastructure projects to lay the foundations for a sustainable growth. In addition, Mr. Gramegna stressed that the aimed infrastructures will have to include digital infrastructures, especially in view of the growth potential linked to the development of new technologies.
Besides the General Assembly, Pierre Gramegna had a meeting with his Chinese counterpart Lou Jiwei, to discuss the consequences of Brexit and to talk over the bilateral relations between China and Luxembourg. Furthermore, he had a meeting with Leslie Maasdorp, vice president of the New Development Bank, to discuss potential cooperation opportunities. Finally, Pierre Gramegna had a few meetings with representatives of Chinese companies, in particular from the financial sector. <a href="http://paperjam.lu/communique/pierre-gramegna-a-la-premiere-assemblee-generale-de-laiib">Sources</a>