Egypt's pivotal role in international cooperation shines as it hosts the Asian Infrastructure Investment Bank's annual meetings.
Egypt's pivotal role in international cooperation shines as it hosts the Asian Infrastructure Investment Bank's annual meetings - Press Photo
Egypt recently played host to the annual meetings of the Asian Infrastructure Investment Bank (AIIB), a significant event attended by global leaders, including Egypt's President Abdel Fattah El-Sisi.
The gathering underscored Egypt's commitment to addressing international challenges, emphasizing global solidarity, deepening continental partnerships, and providing low-cost development financing to support emerging economies.
The meetings also aimed to stimulate private sector engagement to drive green recovery efforts, thereby contributing to the establishment of sustainable cross-border development initiatives.
China's Xinhua News Agency highlighted President El-Sisi's remarks regarding the pivotal role that the AIIB plays in collaboration with Egypt on sustainable development projects.
Dr. Mohamed Maait, Egypt's Minister of Finance, noted that Egypt's voice resonated across Africa during these meetings, advocating for infrastructure investments on the continent.
Lodger Schuknecht, the AIIB Vice President for Investment in Infrastructure, commended Egypt as one of the AIIB's earliest member countries, dubbing it a bridge between Asia and Africa, actively promoting sustainable infrastructure development.
China International, an English-language Chinese news outlet, showcased President El-Sisi's discussion on the fruits of Egyptian cooperation with the AIIB over the years. This collaboration bolsters Egypt's efforts to achieve comprehensive and sustainable development.
Egypt's President extended an invitation to multilateral banks to aid emerging economies by providing concessional financing to support their developmental objectives.
CCTV, a Chinese news channel, reported that these annual meetings marked the first time they were held in Africa, with Egypt being the largest contributor to the AIIB on the continent, boasting a portfolio of $1.3 billion in investment.
Ghana News noted President Abdel Fattah El-Sisi's discussions with Jin Liqun, the President of the AIIB, on the sidelines of the meetings. They deliberated ways to enhance cooperation by exploring diverse investment areas between the AIIB and Egypt.
Meanwhile, Namibia News highlighted the significance of the annual meetings' attendance by President Abdel Fattah El-Sisi and the President of the AIIB for Infrastructure Investment, along with numerous finance ministers and top economic figures.
Zimbabwean news website Bulawayo 24 News shed light on President El-Sisi's remarks concerning the vital role the AIIB has played as Egypt's partner in its development journey. It expressed eagerness to further explore collaboration possibilities, particularly in transportation, clean energy, and supporting the transition to a green economy.
Indian magazine Business Today emphasized that Egypt's hosting of the AIIB meetings in Sharm El-Sheikh internationally underscores Egypt's growing economic influence. The world closely monitors this significant global event, recognizing Egypt's commitment to expanding international cooperation by forging multiparty partnerships with global allies to achieve comprehensive and sustainable development for member countries.
African Business magazine highlighted President El-Sisi's participation in the opening session of the annual meetings, themed "Sustainable Growth in a Challenging World." Egypt sees the AIIB as a key player in achieving sustainable development in Africa, fostering stronger economic ties between Africa and Asia.
Bloomberg Eastern reported, quoting the Minister of Finance, that the AIIB's project portfolio in Egypt has reached $1.3 billion, with ample opportunities to further enhance this investment portfolio across various sectors.
