Finance minister to meet with AIIB vice president Monday

CAIRO – 23 April 2017: Minister of Finance Amr el-Garhy met on Monday with Vice President of the Asian Infrastructure Investment Bank (AIIB) Joachim von Amsberg, along with his accompanying delegation.

The visit, the first of its kind since the establishment of the bank in 2015, aims at reviewing investment opportunities in Egypt as well as the various mechanisms needed to fund national projects on infrastructure, a statement from the ministry quoted Garhy as saying.

The AIIB delegation members expressed interest in meeting with officials from the Suez Canal Authority that works on developing the canal axis, the minister added.

The Suez Canal Axis Development Project is one of the major projects implemented by the Egyptian government as it opens up lots of investment opportunities in high-priority sectors for the bank, he noted.

Garhy further revealed that preparations are underway for holding a meeting between the deputy governor of the Central Bank of Egypt and the AIIB delegation members in order to get acquainted with the latest developments of Egypt’s monetary policy.

The Asian bank members are also scheduled to hold talks with senior officials from the Ministry of Electricity and Renewable Energy to consider the possibility of financing new and renewable energy projects.