"President Xi Jinping,
Chairman Jin Liqun,
Dear Colleagues,
Ladies and Gentlemen,
I am honoured to be here today to celebrate a momentuous event, the birth of a new international financial institution, the AIIB, which we were keen to apply for early on.
What makes this occasion even more special is that the idea of an infrastructure bank came from the East, which to my mind, is further proof of the rebalancing of the world economy.
It also proves China's willingness to play its full part as an essential member of the international community.
Luxembourg commends the Chinese Government for launching the idea of the revival of the former Silk Road and to establish the AIIB to this end.
The AIIB is not only about the countries along the Silk Road: it aims for infrastructure improvement in each and every country in Asia.
Without basic infrastructure, markets cannot function and growth is limited.
The AIIB will be a real booster for Asian economies.
At the same time, it will become a platform for cooperation that will foster economic integration and inter-regional connectivity.
We have been assured that the bank will be lean, clean and green.
We fully support this motto.
We welcome that the bank will be both inclusive and open.
Starting with a clean slate, it can build on the experience of other IFIs and do even better, keeping in mind the lessons learnt and the principles of good governance.
Having chaired the meetings of the EU finance ministres in the previous six months, I can confirm how positively the project of the AIIB is perceived by EU Member States.
The One Belt-One Road generally and the AIIB specifically are welcome steps by China to move closer to Europe.
We can grow together and better support all those countries which are in-between, to develop their strengths.
On our side, we had a similar idea: the new Juncker Plan also promotes investments, including in infrastructure.
The European Investment Bank is the operational arm of this initiative.
Just like the AIIB, the EIB is a catalyser for private investment.
The Juncker Plan will strengthen European integration and also serve as a springboard for cooperation with Asia.
Coordination meetings between both initiatives have started, making sure that cooperation will bring win-win results.
As the host country of the EIB, Luxembourg is well aware of the added value that multilateral investment banks can offer in terms of employment creation and stimulation of growth.
The AIIB will be no exception to the rule.
But the AIIB will not only construct networks, infrastructure and bridges. It will also construct peace.
So, once again: all the very best to the new bank!"