Finance Minister Mohamed Maait - file
CAIRO - 25 September 2023: Egypt hosts Monday the 8th annual meeting of the Asian Infrastructure Investment Bank conference in Sharm el-Sheikh after three years of virtual meetings.
During the meetings, Egyptian Minister of Finance Mohamed Maait said that Egypt's hosting of the conference "reflects the country's role regionally and internationally."
He emphasized that climate change is the biggest challenge today, setting the floods in Morocco and Libya as examples.
"Egypt seeks to deepen relations with AIIB by more partnerships between the public and private sector, green projects, and technology-based infrastructure," he added.
He further noted that the bank's portfolio in Egypt amount to $1.3B is, and has great chances to grow.
Concerted efforts are required to overcome the global challenges, Maait said, adding that African nations have been marginalized for so long, but AIIB can give them a chance to have a voice in the bank.
"We hope that voices of emerging economies and developing countries will be heard so the global system becomes more accommodating," said Maait.
It aims to highlight the role of international partners in financing development objectives in emerging and African countries, particularly countries that were negatively affected by the high cost of finance in international markets.
President Abdel Fatah al-Sisi expressed his happiness that Sharm el-Sheikh is hosting the meetings, as the meetings were held virtually over the past three years.
"We value and support the private sector, which is an important partner in development," he said during the meeting.