The world’s eyes are focused on the city of Sharm el-Sheikh in the next few hours. The flags of 106 countries are waving over the City of Peace to reflect a new economic reality based on intercontinental connectivity to achieve sustainable and comprehensive development.
Economic, political and development circles are anticipating AIIB’s annual meetings which will be hosted by Egypt and held in Africa for the first time on Monday. The event will sponsored by President Abdel Fattah El Sisi amid an international attention reflecting the economic and political weight of Egypt.
The last few hours saw the arrival of delegations participating in the event. They included some of the world’s most economically influential figures such as finance ministers and central bank presidents, in addition to representatives of 160 local and international media outlets coming to cover the deliberations of AIIB’s meetings.
The sessions will tackle key issues under important titles such as ‘Guaranteeing an international governance for the sake of across-the-border sustainable development’, ‘Building partnerships to support the world’s health infrastructure’,‘Mobilising resources to finance climate-centred activities’, ‘Reinforcing the role of the private sector in the area of electronic services in Asia and Africa’, ‘Creative partnerships to confront world challenges’,‘Sustainable finance in infrastructure through sustainable development bonds’, ‘Reinforcing communications in a world full of challenges’, ‘Mobilising resources and creative finance to bridge the gap in funding infrastructure projects in the Middle East and Africa’, and seminars on multilateral co-operation to finance joint development projects between AIIB and Egypt: cross-border infrastructure…the future of finance mobilisation trends, good international practices in implementing and supervising projects, and economic inclusion in infrastructure: challenges and opportunities, in addition to other sessions which represent an important international platform.
Finance minister and Egypt’s governor at AIIB Mohamed Maeet said Egypt is opening up to the world to seek partnerships stimulating sustainable development and in a way that shows more understanding of the current global exceptional circumstances and more responsive to the needs of emerging economies.
Egypt is co-operating with AIIB to build cross-border development partnerships led by the private sector and in a way that can lead to greater bilateral development cooperation and increase AIIB’S investments, which currently stand at $1.3 billion in Egypt.