Egypt has “high hopes” for future AIIB partnerships

Egyptian government looks to build on existing pipeline; AIIB unveils climate action plan

The Egyptian government has high hopes that the country’s private sector will take advantage of opportunities to work with the Asian Infrastructure Investment Bank (AIIB) to deliver projects in the country.

Speaking at the launch of the AIIB’s annual meeting, taking place in Sharm El-Sheikh, finance minister Mohamed Maait said Egypt is cooperating with AIIB to build cross-border development partnerships led by the private sector.

“We have high hopes that the next stage will see all benefitting from AIIB's great experience and potential to widen the scope and size of infrastructure projects,” he added.

Meanwhile, the AIIB used the event to launch its climate action plan, which covers four principles, including mobilising capital. The organisation said that this will involve “leveraging AIIB’s robust financial position and strengthening financing partnerships to mobilise capital for climate projects”.