Luxembourg plans closer cooperation with AIIB

LUXEMBOURG - Luxembourg will work closely with the Asian Infrastructure Investment Bank (AIIB) to boost sustainable investment and improve regional connectivity, its finance minister said.

The nation's finance minister, Pierre Gramegna, made the commitment on Tuesday after signing a Memorandum of Understanding with Danny Alexander, vicepresident and corporate secretary of the AIIB.

Following China, South Korea and India, Luxembourg will host the AIIB's 2019 annual meeting on July 12-13, 2019, making it the lender's first annual meeting in Europe. The theme next year is "Cooperation and Connectivity" in recognition of the economic and social benefits to be realized by enhancing connectivity within and between countries and regions, including Asia and Europe.