23 February 2024 02:57 PM

Finance Minister: We welcome AIIB annual meetings in September in Egypt

Saturday، 13 May 2023 - 03:09 PM

Finance Minister Mohamed Maait, Egypt's governor of the Asian Infrastructure Investment Bank, welcomed hosting the annual meetings of the Asian bank in Sharm El Sheikh in September.

The 2023 AIIB Annual Meeting is an important platform to discuss available opportunities, thus contributing to enhancing cooperation with international and regional development partners and boosting local and international investments in vital sectors.

Maait said "We seek promoting multi-lateral development partnerships among regional and international financing institutions and developing countries in accordance with state efforts to promote investment opportunities in Egypt."

During a meeting with AIIB Vice President Luky Eko Wuryanto, he said the bank is looking forward to expanding the role of the bank in development financing of the private sector through securing the proper climate for encouraging local and foreign investments.

He thanked the bank for his continued support to Egypt, especially in national projects, commending the fruitful cooperation between the two sides with the bank's investment portfolio in Egypt exceeding dlrs 1 billion since the commencement of their cooperation in 2016.

He highlighted Egypt's approach to diversify financing resources, noting that Egypt is looking forward for the first issuance of the panda bonds in yuan in the Chinese market in the coming period for establishing social and eco-friendly projects.

He referred to Egypt's success in issuing dollar-dominated bonds and green bonds as well as Islamic sovereign sukuk at dlrs 1.5 billion.

The AIIB official said the bank's board is confident that the event will come up in a way that is commensurate with Egypt's international position, highlighting the role of the bank in investment development and projects with various development dimensions. 

MENA


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