CAIRO, Sept 7 – Egypt is seeking to deepen its partnership with the Asian Infrastructure Investment Bank (AIIB), with President Abdel Fattah El-Sisi and AIIB President Zou Jiayi discussing opportunities to expand cooperation across infrastructure and other strategic sectors.
The meeting, held in Egypt, was attended by Finance Minister Ahmed Kouchouk, Foreign Minister Badr Abdelatty and senior AIIB officials, including Konstantin Limitovskiy, the bank’s Chief Investment Officer for the Middle East, North Africa, West and Central Asia, and the Americas, as well as its Head of Private Sector and Partnerships.
According to Presidential Spokesperson Ambassador Mohamed El-Shennawy, El-Sisi expressed Egypt’s appreciation for its longstanding relationship with the AIIB, which began when Egypt joined the institution as a founding non-regional member.
The president highlighted the bank’s contribution to Egypt’s development agenda through financing and technical assistance for projects involving government institutions, private-sector companies and the banking sector.
Egypt targets infrastructure and logistics investment
El-Sisi said Cairo wants to broaden its cooperation with the AIIB in areas aligned with national development priorities, particularly energy, transportation, ports and logistics.
He also highlighted Egypt’s competitive advantages and the investment opportunities available across these sectors as the country continues to develop its infrastructure and strengthen its position as a regional economic hub.
AIIB President Zou Jiayi pointed to Egypt’s strategic importance as a geographical and economic link between Asia and Africa.
She highlighted the bank’s existing investment portfolio in the country, including its involvement in the Benban Solar Park, the Alexandria-Abu Qir Metro project and the development of the container terminal at Damietta Port.
Jiayi also welcomed the Egyptian government’s efforts to strengthen economic resilience and support a sustainable recovery.
Her visit, she said, was intended to coordinate with Egyptian officials on future areas of cooperation and ensure that AIIB financing policies remain responsive to the development requirements of its member countries.
AIIB backs Egypt’s economic reform agenda
During the discussions, El-Sisi outlined Egypt’s broader economic development programme, including major infrastructure investments and efforts to modernise transport, energy and telecommunications networks.
The government is also seeking to increase the share of renewable energy in the country’s energy mix, improve the investment environment and strengthen the competitiveness of the Egyptian economy.
Jiayi praised Egypt’s progress in implementing economic reforms and advancing sustainable development.
She pointed to improvements in economic growth, foreign direct investment, exchange-rate stability and other economic indicators as evidence of progress in the country’s reform programme.
Financing resilience amid global uncertainty
The two sides also discussed regional and global economic conditions, including the effects of geopolitical tensions on investment, development and international financing flows.
El-Sisi stressed the importance of closer cooperation between international financial institutions and developing economies as emerging markets confront external shocks and tighter global financial conditions.
He called for greater use of innovative financing mechanisms and stronger mobilisation of private-sector capital to help developing economies finance infrastructure and achieve their long-term development objectives.
For Egypt, a deeper relationship with the AIIB could provide an additional source of financing and technical expertise as Cairo pursues large-scale infrastructure projects while seeking to attract more private investment.
The discussions also reinforce Egypt’s role as a potential bridge between Asian capital and African infrastructure opportunities, particularly in energy, transportation, ports and logistics.
