Iraq sends message to join AIIB

Baghdad-INA


Iraqi embassy in Beijing announced Tuesday that Iraq had submitted to join the Asian Infrastructure Investment Bank, while the Vice President of the Bank, Ludger Schuknecht, indicated that Iraq is in dire need of construction of real estate projects, especially in the field of electric power.
 
The embassy said in a statement received by the Iraqi News Agency (INA): "The Ambassador of the Republic of Iraq in Beijing, Shorsh Khaled Saeed, met with the Vice President of the Asian Infrastructure Investment Bank, who is specialized in the affairs of joining the new members, Ludger Schocknecht," noting that "an explanation was provided about the steps that will be taken." After the document and letter of Iraq's accession to the bank was delivered."
 
"Iraq's request will be referred to the Board of Directors next week for voting and approval, after which Iraq's request will be submitted to the Board of Governors for a vote and approval of Iraq's accession, which will take about 20 days," it said.
 
"Iraq urgently needs infrastructure reconstruction projects, particularly in the field of electricity, because of the damage in its infrastructure as a result of previous wars and terrorist attacks on some areas of Iraq," he said.
 
The bank, based in Beijing, China, has provided dozens of loans to its members from countries with the aim of establishing infrastructure projects.