Mashat Engages with AIIB for Infrastructure Investment Opportunities

Post by : Omar Nasser

Photo : Egypt Media Office

In a significant meeting aimed at enhancing economic collaboration, Egypt's Minister of Planning and Economic Development, Rania El-Mashat, engaged with a delegation from the Asian Infrastructure Investment Bank (AIIB) to discuss strategies for strengthening bilateral ties and furthering ongoing efforts toward economic development. The delegation was led by Nat Pinnoi, the Infrastructure Sector Senior Economist at the AIIB.

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Minister El-Mashat expressed appreciation for the robust relationship between Egypt and the AIIB, emphasizing its reflection of a mutual commitment to fostering sustainable economic growth and infrastructure development. This partnership aligns closely with Egypt’s overarching goals for sustainable and inclusive economic advancement.

El-Mashat highlighted Egypt’s active role as a founding member of the AIIB, noting that the country was part of the foundation agreement signed in June 2015, which was subsequently ratified in August 2016. She reiterated Egypt’s intent to deepen its cooperation with the bank, particularly in the sectors of infrastructure, energy, and transport. The minister pointed out that Egypt is the largest contributor from Africa to the AIIB, which positions the country to play a pivotal role in enhancing sustainable economic development across the continent.

The discussions underscored the importance of multilateral cooperation in achieving sustainable development goals. El-Mashat stated that this partnership emphasizes joint efforts toward green transformation and addressing environmental challenges through flexible and inclusive policies. She expressed Egypt’s aim to develop robust and sustainable infrastructure that not only supports economic growth but also prioritizes environmental protection, thereby strengthening community resilience against future challenges.

Additionally, the meeting focused on Egypt's collaborative efforts with development partners under the National Structural Reform Program. This program aims to enhance macroeconomic stability, create a favorable business climate, and facilitate the transition toward an environmentally friendly economy.

El-Mashat reaffirmed the government’s commitment to pursuing economic and structural reforms designed to enhance competition, improve the business environment, and attract both foreign and domestic investments. She emphasized the importance of building financial resilience and bolstering the economy's capacity to withstand potential shocks by enhancing the efficiency of the financial system and promoting debt reduction initiatives.

Through these strategic efforts and partnerships, Egypt aims to pave the way for sustainable growth while addressing the challenges of the present and future.

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