Greece will apply to participate in the share capital of the Asian Infrastructure Investment Bank

Greece will apply to participate in the share capital of the Asian Infrastructure Investment Bank (AIIB), the Government Council on Economic Policy decided on Thursday, in a meeting chaired by government Vice-President Yiannis Dragasakis.

In a press release, Dragasakis’ office said the decision was part of the government’s “general strategy to develop collaboration with international collective investment institutions, with the aim of security financing for high-added value investment plans.”

Greece’s official request to participate in the AIIB will be submitted by the finance ministry in August, with Prof. Panagiotis Roumeliotis acting as the negotiator and representative of the Greek side, the press release said.

Nearly all Asian countries and 17 European countries, as well as states on other continents, participate in the AIIB, which is empowered to finance projects in the region of Asia or projects on other continents that help link them with Asia. It will be able to finance projects by Greek companies in the Middle East, China and the rest of Asia, as well as projects in Greece carried out by companies based in Asian countries.