Economy

For the first time .. on the African continent d. Maait: Egypt is witnessing a new reality that is becoming more attractive to international development partners

Fathi Al-Sayeh

Dr. Mohamed Maait, Minister of Finance, Governor of Egypt confirmed The Asian Infrastructure Investment Bank (AIIB), that the Board of Governors of the Asian Infrastructure Investment Bank decided, in its virtual meeting, to hold its eighth high-level annual meetings, next year, for the first time on the African continent, in Sharm El-Sheikh on 25-26 September 2023; As a historically distinguished city, and an ideal platform for discussing opportunities for infrastructure financing, in a way that contributes to achieving sustainable development locally, regionally and globally in many vital sectors such as energy and water, and discussing ways to enhance cooperation with the private sector and international development partners.
The Minister added, Governor of Egypt at the Asian Infrastructure Investment Bank (AIIB), during his participation in the virtual meeting of the Council Governors of the Asian Infrastructure Investment Bank, in the presence of Ahmed Kjok, Deputy Minister for Financial Policies and Institutional Development, Alaa Abdel Rahman, Assistant Minister for External Relations, and Doaa Hamdi, Head of the External Relations Unit, said that Egypt is witnessing a new reality that has become more attractive to international development partners, as we have succeeded in creating a stimulating environment for investors. Local and foreigners, with our strong infrastructure, we spent $400 billion on developing it within 7 years, to be able to absorb a huge volume of investments, explaining that the government is making concrete efforts to stimulate investment and empower the private sector; As the locomotive of job-rich economic growth, in order to achieve the goals of comprehensive and sustainable development, according to Egypt’s vision 2030 The Minister, Governor of Egypt at the Asian Infrastructure Investment Bank (AIIB), expressed his aspiration for a greater role for the Asian Bank in supporting the Egyptian path to transforming into a smart and green infrastructure, in conjunction with hosting the Climate Summit in Sharm El-Sheikh next November; In a manner that qualifies the Egyptian state to achieve its goals in the field of green transformation; This is in line with the extended cooperation between the two sides, which was reflected in financing projects that citizens feel, as the development cooperation portfolio between the Bank and Egypt exceeded one billion dollars. The Minister, Governor of Egypt at the Asian Infrastructure Investment Bank (AIIB), added that we are also looking forward to a greater presence of the Asian Infrastructure Investment Bank in the African continent and linking the African and Asian continents, from During the consolidation of the partnership with Egypt, which enjoys a vital geographical location linking the continents of Asia, Africa and Europe, which qualifies it to play a strategic role in ensuring good and sustainable infrastructure and mobilizing financial resources for the private sector, in a way that pushes it to play its role in this vital field, pointing out that global economic challenges The interlocking compounded the need to finance more sustainable infrastructure.