Sharm El-Sheikh will host the 8th Annual Meeting of the Asian Infrastructure Investment Bank in September

The Egypt Ministry of Finance, in cooperation with the Asian Infrastructure Investment Bank (AIIB), has started preparations to host the Bank’s Eighth Annual Meeting to be held for the first time in Egypt, in Sharm El-Sheikh, next September. Work is underway to help provide the components for success for the rich discussions that will take place at the AIIB Annual Meeting with the aim of strengthening the foundations for comprehensive and sustainable development. Other activities during the Annual Meeting are planned, to help deepen the private sector’s contributions to economic activities and allow them to benefit from the expertise and capabilities of AIIB in mobilizing financial resources for private investments. The event is expected to help support sustainable and robust infrastructure in the African continent.

Dr. Mohamed Maait, Minister of Finance and Governor of Egypt at the Asian Infrastructure Investment Bank (AIIB), confirmed that the 2023 Annual Meeting of the Asian Infrastructure Investment Bank in Sharm El-Sheikh is an important platform for deepening the means of development partnership between African and Asian countries; further, it is an opportunity for Egypt to strengthen the presence of African countries on a global platform. He pointed out that Egypt is AIIB’s first shareholder from the continent of Africa, and the first full member from the continent.

The Minister of Finance and Governor of Egypt at the Asian Infrastructure Investment Bank (AIIB), said that they are looking forward to providing more promising opportunities for financing infrastructure projects in African countries, in a way that contributes to achieving comprehensive and sustainable development. He explained that Egypt is qualified to play a strategic role in ensuring quality infrastructure for regional integration due to its vital geographical location that connects the continents of Asia, Africa and Europe. He added that they are keen to open new horizons to stimulate domestic and foreign investments in partnership with the private sector, in a way that contributes to attracting more investors to sectors with development priorities in Egypt, and easing pressures on the state’s general budget. He noted that the State provides a business environment that is supportive and attractive to private investments, through various programs, such as the golden license, the initial public offering program (IPO), the state ownership policy document, and the Supreme Investment Council.