Egypt under President Abdel Fattah El Sisi witnessed a quantum leap in the infrastructure growth domain, said President of the Asian Infrastructure Investment Bank (AIIB) Jin Liqun on Monday.
During the opening of the eighth Annual Meeting of the Board of Governors of AIIB in Sharm El Sheikh, he pointed out to Egypt’s infrastructure since the construction of the Giza Pyramids to the Suez Canal which witnesses 12 per cent of the world trade.
He also hailed the projects carried out in the New Administrative Capital, stressing the importance of establishing projects bearing strong shocks similar to those that happened recently in Morocco and Libya.
President of the Asian Infrastructure Investment Bank (AIIB) Jin Liqun said guarantees worth $1 billion were secured after the joint declaration issued by the AIIB and the World Bank.
During the opening of the eighth Annual Meeting of the Board of Governors of AIIB in Sharm El Sheikh, he pointed out to the strong partnerships with world economic institutions including the European Bank Reconstruction and Development (EBRD) and the European Investment Bank (EIB).
He added that a number of agreements were reached during the past year with a number of partners including Bloomberg Philanthropies, the Pandemic Fund that finances critical investments to strengthen pandemic prevention, preparedness, and response capacities at national, regional, and global levels, with a focus on low- and middle-income countries and International Solar Alliance.
He pointed out to president Sisi’s statements during the inauguration of climate change conference COP27 held last year in Sharm El Sheikh in which he said the coming generations must not bear the consequences of mistakes made by others.