Maait elaborated Thursday that Egypt is one of the founding countries of the bank, and the largest shareholder from the African continent.
These remarks were made by Mashat during her participation on the second day of the 7th round of Banks' Chief Executive Officers (CEOs) under the title of "How the Egyptian Economy Survived the Trap of International Recession".
The World Bank and the Asian Infrastructure Investment Bank have agreed to provide in total $720 million for the Development Policy Financing (DPF) framework, with $360 million from each institution.
The World Bank: “We are keen on continuous dialogue with our partners, and the reforms established have helped the Egyptian economy persist despite challenges.”
This twin-track approach integrates green growth in Egypt’s national development plans through national and international-level actions, Al-Mashat added.
Berglöf clarified Tuesday that his bank support the diversification of energy mix towards renewables in Egypt which lead to 11 projects in Benban solar Part and rural sanitation project.
The minister referred to Egypt’s growth rate despite the recession caused by COVID-19 pandemic, referring to the expectations for Egypt to hit 5 percent growth rate during 2021.
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