CAIRO – Egypt’s Finance Minister Mohamed Maait, Egypt’s governor at the Asian Infrastructure Investment Bank (AIIB), said Egypt is looking forward to boosting bilateral developmental cooperation in the most sustainable investment activities through cooperation with The Multilateral Cooperation Center for Development Finance (MCDF).
The minister’s remarks were during his meeting with MCDF CEO Zhongjing Wang and his accompanying delegation at the New Administrative Capital.
During the meeting, Maait said MCDF is supporting developing countries and has been working on enhancing infrastructure investments and cross-border communication through easing partnerships between the developing countries’ governments and the international finance institutions.
Maait welcomed the first African project to be sponsored by MCDF for establishing a power grid between Egypt and Sudan, noting that the successful outcome of the UN Climat Conference (COP27) would propel a joint action for the green and sustainable growth in Africa.
He also added that cross-border communication has become an urgent matter for pushing forward integration efforts in Africa and putting into effect the agreement on establishing the African Continental Free Trade Area (AFCFTA).
Over the past few years, Egypt has exerted much efforts to upgrade its infrastructure to lure in local and foreign investments and create a proper climate for the private sector to lead the investments in the sectors of energy, technology and logistical services in a bid to achieve sustainable and comprehensive development, he explained.
The two sides discussed increasing the number of projects carried out by MCDF, especially in the fields of transport, water, energy, information and communication technology.