Hong was at the helm of the policy lender for three years before joining the AIIB
in February 2016.
Our participation in AIIB
expands the scope of economic diplomacy and the prospect of accessing investment capital".
Both sides discussed ways of increasing cooperation between Egypt and the AIIB
, especially in the fields of sanitation, energy, and transportation.
In a meeting with the visiting Iranian Transport Minister Abbas Akhoundi in Beijing, the AIIB
president Jin Liqun referred to Iran's role in the establishment of the AIIB
, adding that the bank is also ready to help Iran with rehabilitation and reconstruction of old buildings in the country.
"Joining the AIIB
will help us not to be as reliable [as we have been] on the World Bank, International Monetary Fund, and the European Union.
Cheam Yeap, chairman of the National Assembly's Commission on Economy, Banking, Finance and Audit, said becoming a founding member of the AIIB
is an excellent and right choice for the Cambodian government in mobilizing an additional source of capital for infrastructure development.
Lou Jiwei, the first chairman of the AIIB
's board of governors and also China's finance minister, made the remarks on the sidelines of the opening ceremony of the new development bank.
has already expressed interest to finance infrastructure projects in Pakistan in various sectors including energy, transport, seaport and urban development.
will be headquartered in Beijing, with an initial capital stock of $100 billion.
The Chinese initiative to establish the AIIB
is founded on a regional development strategy: the gNew Silk Roadh strategy, or the gOne Belt and One Roadh initiative, consisting of the gSilk Road Economic Belth and the gNew Maritime Silk Roadh, both proposed by China.
Signing of the founding Articles of Agreement is the next step in the process of establishing the AIIB
prior to its anticipated full operations at the end of 2015.
The Iranian economy minister, meantime, pointed to the establishment of the AIIB
, and said, "It will encourage Asian states to upgrade economic cooperation and finance infrastructural projects."