The agreement was signed in the Red Sea resort city of Sharm el Sheikh on December 9, 2018. It was approved by the House of Representatives on April 14, 2019.
The Asian Infrastructure Investment Bank (AIIB) is currently seeking to establish more investment projects in Egypt.
AIIB’s president praised the establishment of the Administrative Capital by self-financing through the sale of lands to investors.
The bank is financing a number of solar projects worth $210 million in the Benban area of Aswan Governorate.
During a tour of project sites in Ismailia and Port Said, the delegates said that the bank plans to pump more investments in infrastructure projects in Egypt.
The loan will allow Egypt to increase power generation capacity and reduce reliance on gas and fuel, to help meet its commitment under the Paris Climate Agreement.
The bank enjoys "an excellent level of liquidity" and should benefit from easy access to capital markets, Fitch said.
The Asian Infrastructure Investment Bank (AIIB) will study funding for new and renewable energy projects in Egypt,
Minister of Finance Amr El-Garhy will participate Friday in the annual meeting of the Asian Infrastructure Investment Bank (AIIB).
Minister of Finance Amr el-Garhy will meet on Monday with Vice President of the Asian Infrastructure Investment Bank (AIIB) Joachim von Amsberg.
The Asian Infrastructure Investment Bank (AIIB) will provide a $10-15 billion fund per year within the coming five to six years for various infrastructure projects in its countries of operations, including Egypt, the bank’s Vice President D.J. Pandian sai