Iraq discusses possibility of joining Asian Infrastructure Investment Bank

Iraqi Ministry of Transportation on Sunday discussed the possibility of joining the Asian Infrastructure Investment Bank (AIIB).

A statement by the ministry's media office said Transportation Minister Abdullah Luaibi held an extensive meeting to discuss "drawing a road map in cooperation with the Chinese side to activate the role of Iraq in the Belt and Road Initiative."

During the meeting, Luaibi discussed the possibility of speeding up procedures of Iraq's accession to the AIIB, the statement said.

The multi-lateral AIIB is a China-led financial institution set up to spur funding of roads, bridges, ports, airports and railways along the New Silk Road in Asia and beyond.

"We seek to cooperate with China, through its companies and embassy, by introducing the announced investment opportunities in Iraq's infrastructure," Luaibi said.