Greece participates in Asian Investment and Infrastructure Bank’s meeting

Greece participated for the first time as a full member in the annual meeting of the Asian Investment and Infrastructure Bank (AIIB), which was held in South Korea on June 16-18, 2017.

Greece was represented by a delegation headed by Professor Panagiotis Roumeliotis.

On July 21, 2016, the Government Council for Economic Policy decided Greece’s participation in Asian Investment and Infrastructure Bank’s share capital as part of the strategy for the development of collaborations with international investment institutions aiming at ensuring funding for high added value investment projects.

The Greek delegation announced that it is ready, as a full member of the Asian Investment and Infrastructure Bank, to pay its share in the bank’s capital (initially 4 annual installments of 500,000 euros, while the final amount will be determined by the number of the members and the amount contributed) and to follow the procedures provided for in its Statute.

Speaking at the AIIB plenary, the head of the Greek delegation Roumeliotis pointed out that Greece could benefit significantly from the financing of the infrastructure for the construction of the Silk Road, one of the main actions of AIB, which plays an important role in the interconnection of the Asian and European continents.

The Greek Delegation also stressed that our country’s goal is to strengthen the economic and commercial ties connecting Asia with the Mediterranean, mainly through the Piraeus port hub, in cooperation with COSCO and the support of Greek shipowners so that Greece can become a bridge between Asia, Europe and Africa.

The Hellenic Parliament is expected to ratify Greece’s participation in the Asian Investment and Infrastructure Bank in late 2017 when Greece’s participation in the International Organization for Economic Development will be fully activated.