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Luxembourg Finance Minister visits Mumbai

Published Monday October 15 2018

On 25 and 26 June 2018, the Luxembourg Finance Minister Pierre Gramegna visited Mumbai to attend the 3rd Annual Meeting of Asian Infrastructure Investment Bank (AIIB). The 4th General Assembly of the AIIB will be held in Luxembourg in July 2019. Luxembourg having been the 1st non-Asian country to become a founding member of the AIIB in 2016 as well as a leading international financial center and a facilitator of investments between Europe and Asia. 

AIIB Vice President and Corporate Secretary Mr.  Danny Alexander thanked the Government and people of Luxembourg for offering to host  AIIB General Assembly in 2019 and mentioned that European countries have been strong supporters of the creation of the AIIB and its a great opportunity to bring all of the Bank’s members to Europe. Mr. Alexander further added that the 2019 AIIB General Assembly will be a great opportunity for public and private sector representatives from around the world to discuss on infrastructure development in Asia and beyond.

Mr. Pierre Gramegna , Finance Minister of Luxembourg said that Luxembourg is honored to become the first non-regional member of AIIB to host the bank’s Annual Meeting and welcomed all the members  to Luxembourg City next year and making the 2019 event a great success. 

The first AIIB Board of Governors meeting was held in Beijing, China in 2016. The second was held in Jeju, Korea in 2017 and the third was held in Mumbai, India in 2018. The second Asian Infrastructure Forum will be held as part of the 2019 Annual Meeting. 

During his visit, the Finance Minister met the interim Indian Finance Minister Piyush Goyal, the CEO of the Bombay Stock Exchange Mr Ashish Kumar as well as the Chairmain of the Securities Exchange Board of India, Mr Ajay Tyagi to discuss the strengthening of the financial relations between Luxembourg and India. Currently Luxembourg ranks as 16th largest Foreign Direct Investor in India.

Source: AIIB -  https://www.aiib.org/en/news-events/news/2018/20180626_002.html  

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