Cairo, Egypt//= President Abdel Fattah El-Sisi today met with the President and Chair of the Board of Directors of the Asian Infrastructure Investment Bank (AIIB), Zou Jiayi.
The meeting was attended by Minister of Finance and Governor of Egypt at the Asian Bank Ahmed Kouchouk, Minister of Foreign Affairs, International Cooperation and Egyptian Expatriates Dr Badr Abdelatty, and Chief Investment Officer, Public Sector (Region 2) & Project and Corporate Finance (Global) Clients at AIIB Konstantin Limitovskiy.
The Spokesman for the Presidency, Ambassador Mohamed El-Shennawy, said President El-Sisi expressed Egypt’s appreciation for the ongoing cooperation with AIIB—dating back to Egypt’s participation in its establishment as a non-regional founding member.
The President highlighted the Bank’s key role in supporting Egypt’s development efforts by providing financing and technical assistance for many projects and programs underway, whether in partnership with Egyptian state entities or with the Egyptian private and banking sectors.
The President said Egypt looked to further diversify its cooperation portfolio with the Bank, in alignment with national priorities and plans, particularly in energy, transport, ports, and logistics, among other sectors, by leveraging the competitive advantages of the Egyptian economy.
The AIIB President expressed appreciation for Egypt’s role as a founding member and emphasized that the Bank views Egypt as a geographic and developmental link between Asia and Africa.
She highlighted the Bank’s distinguished portfolio in the country—through which it has financed several key projects, such as the Benban Solar Park, the Alexandria – Abou Qir Metro Line and the development of the container terminal at Damietta Port, among others. This is in addition to supporting the Egyptian government’s policies aimed at enhancing economic resilience and sustainable recovery.
She emphasised that her visit reflects a commitment to consulting with the President and the Egyptian government regarding the work priorities for the coming period—in line with the Bank’s policy of ensuring that its future strategic direction reflects the development priorities and financing needs of its member countries.
The President reviewed the Egyptian state’s efforts within the framework of comprehensive and sustainable economic development plans, noting the major projects implemented in recent years to upgrade infrastructure; enhance transport, energy, and telecommunications networks; and increase reliance on renewable energy sources, as well as efforts to improve the investment climate, boost the Egyptian economy’s competitiveness and resilience in the face of regional and international challenges, and measures to maximize the private sector’s role in economic activity and attract further foreign investment.
AIIB President Zou Jiayi commended the successes made in Egypt in terms of comprehensive and sustainable development, as well as the Egyptian government’s success in implementing ambitious economic reform measures. These steps have resulted in higher growth rates, increased direct investment, exchange rate stability, and an overall improvement in macroeconomic performance indicators.
Views were exchanged on international and regional economic and financial developments, as well as the repercussions of geopolitical tensions on development trajectories and flows of investment and finance.
President El-Sisi emphasised the importance of bolstering cooperation between international financial institutions and developing nations, enhancing innovative financing instruments, and mobilising greater private investment to support development efforts and enhance the resilience of emerging and developing economies in the face of crises and external shocks.
