The Asian Infrastructure Investment Bank (BAII) held its 4th annual meeting in Luxembourg, the first being held outside Asia. These meetings made it possible to receive, on Saturday July 13, 2019, Benin in the very closed circle of members of this financial institution initiated by China.

Benin is now a member of the Asian Infrastructure Investment Bank (BAII). The decision was taken unanimously by the institution’s Board of Governors. It was in the presence of a delegation led by the Minister of Economy and Finance Romuald Wadagni that membership was approved. It is the culmination of a long process followed by the national treasurer under the leadership of President Patrice Talon. In fact, it is since December 2016 that the candidacy of Benin has been submitted for its membership of this prestigious international financial institution. Like Benin, Djibouti and Rwanda were accepted at this meeting, bringing the number of members of this bank to 100.

The BAII in question …

A multilateral development bank headquartered in Beijing, the AIIB began in January 2016 its investment activities in sustainable infrastructure and other productive sectors in Asia and beyond.

The Asian Infrastructure Investment Bank (AIIB, or AIIB), is an investment bank offered by the People’s Republic of China initially to meet growing infrastructure needs in Southeast Asia and Central Asia. This bank is part of the strategy of the new silk road, developed by China. Created in October 2014, it has gradually opened up to other countries around the world. Thus, on March 11, 2015, Luxembourg, which hosted the 2019 annual meeting, was the first non-regional country to announce its wish to become a founding member of the Bank. The United Kingdom, France, Germany, Italy, Switzerland and Russia are following in its footsteps.

PFC / MEF