Egypt’s Finance Minister Mohamed Maeet, who is also Egypt’s governor of the Asian Infrastructure Investment Bank (AIIB), welcomed hosting the annual meeting of the Asian bank in Sharm El-Sheikh on September 25-26.
During his meeting on Wednesday with the AIIB senior board members, Minister Maeet said that the government has made great efforts to make this event a success and elevate Egypt’s image at regional and international forums.
The minister also reviewed the outcomes of coordination meetings of the joint subcommittees between the Ministry of Finance and the Asian Infrastructure Investment Bank.
Maeet noted that Egypt is working hard to expand vistas of co-operation with regional and global development partners with a view to maximising local and international investments in vital sectors.
Minister Maeet said that Egypt has made great strides in the transition to smart and green infrastructure, thanks to multilateral development partnerships with global development finance institutions.
The AIIB’s eighth annual meeting, the first to be held in Africa, will discuss the available opportunities for financing infrastructure in a way that contributes to achieving local, regional, and global sustainable development in several critical sectors such as energy and water.
Maeet said Egypt succeeded in creating a stimulating environment for local and foreign investors, thanks to the robust infrastructure it has built over the past nine years.
Egypt also looks forward to get greater support from AIIB in its transition to smart and green infrastructure.
“This support would enable the Egyptian state to achieve its goals in the green transition and would be consistent with the continuous co-operation between the two parties,” Maeet said, adding that the development cooperation portfolio between the Asian bank and Egypt has exceeded $1 billion.