Egyptian President Abdel Fattah El Sisi attended on Monday a dialogue session on the role of development banks in pushing the capital of the Private Sector to invest in infrastructure and help in the development process and create more job opportunities.
The session convened on the sidelines of the annual meetings of the Asian Infrastructure Investment Bank (AIIB) in Sharm el Sheikh.
Finance Minister Mohamed Maeet, who is moderating the session, said that the large gap in financing infrastructure projects in most world countries, particularly developing states is bigger than any coverage by governments or multilateral development banks alone.
So, the capital of the Private Sector is very important to meet the financial needs to fund infrastructure projects worldwide, added Maeet.
Shifting to assessing opportunities and challenges facing the Private Sector in different sectors and the role of multilateral development banks in attaining development, Hassan Allam Holding’s executive director Hassan Allam said that nearly 1.5 billion persons are living in Africa and the Middle East region, which, he added is asserting this part of the world allows for investment in infrastructure.
Allam was speaking at a dialogue session on the role of development banks in moving the capital of the Private Sector to invest in infrastructure on the sidelines of the annual meetings of the Asian Infrastructure Investment Bank (AIIB) in Sharm el-Sheikh, in presence of President Abdel Fattah El Sisi.
He added a key challenge at present is the creation of programmes in these partnerships with the Private Sector to activate them.
Allam asserted the Private Sector is pleased to do business and ready for participation and the banks are ready for making alliances with governments.
Former Philippine finance secretary Jose Isidro N. “Lito” Camacho said there is a big gap between finance and infrastructure, which, he added requires co-operation between the public and private sectors.
Camacho was speaking at a dialogue session on the role of development banks in moving the capital of the Private Sector to invest in infrastructure on the sidelines of the annual meetings of the Asian Infrastructure Investment Bank (AIIB) in Sharm el-Sheikh, in presence of President Abdel Fattah El Sisi.
There are two kinds of investors; strategic investors and financial investors such as banks and capital markets, he said.
He called on governments to encourage these public partnerships through the establishment of several programmes for different economies.
The former Philippine finance secretary said he believed that the Asian Infrastructure Investment Bank is helping in offering financing, adding the talks about investment are based on values of shares funds.
He encouraged the Bank and other banks to play more vital roles in supporting infrastructure projects as well.
Indonesian Finance Minister Sri Mulyani underscored the necessity of laying down the legislative and political frames to attract and facilitate investments of the Private Sector in infrastructure.
Countries know what to offer, but they do not know how to apply, she added.
Mulyani was speaking at a dialogue session on the role of development banks in moving the capital of the Private Sector to invest in infrastructure on the sidelines of the annual meetings of the Asian Infrastructure Investment Bank (AIIB) in Sharm el-Sheikh, in presence of President Abdel Fattah El Sisi.
She said the Private Sector has faced a number of risks including a gap between activities of the public sector and infrastructure and capabilities of the Private Sector to address these risks.
It is necessary to offer a number of tools to bridge gaps, according to her.
