Sewage projects discussed by Egypt, AIIB vice president

CAIRO – 24 May 2017: The possible funding of sewage treatment plants in Egypt by the Asian Infrastructure Investment Bank (AIIB) was discussed by Minister of Investment Sahar Nasr and AIIB’s Vice President Joachim von Amsberg, according to a Wednesday statement.

Sahar said in the statement she tackled the participation of AIIB in funding such projects in the neediest villages of the country.

The meeting comes as part of the AIIB mission's visit to Egypt to review the country's infrastructure projects the bank intends to fund.

The minister also mentioned her recent meeting with chairperson of the Silk Road Fund Jin Qi in Bejing on the sidelines of the Belt and Road Forum, as the Silk Road Fund is the other party alongside the AIIB taking part in funding infrastructure projects in its countries of operations, including Egypt.

Meanwhile, Amsberg lauded the House of Representatives' move to pass the new investment law that aims to facilitate business investment and reduce bureaucracy in Egypt.

The Egyptian market is promising, AIIB’s official said, noting that Egypt is the first non-Asian country to which AIIB sends a mission and is also the bank's only country of operation outside Asia.