Egypt seeks wider AIIB partnership in energy and infrastructure

Egypt is seeking to expand its cooperation with the Asian Infrastructure Investment Bank (AIIB), with President Abdel Fattah El-Sisi calling for greater collaboration in key sectors, among them energy, transport, ports and logistics.

El-Sisi made the remarks during talks with AIIB President Zou Jiayi.

According to a statement from the Egyptian presidency, El-Sisi welcomed the bank's support for the country's development agenda, noting that AIIB financing and technical assistance have contributed to projects involving government institutions, financial entities and the private sector.

He said future cooperation should be closely aligned with Egypt's national development priorities while making use of the country's economic and geographic advantages.

Zou highlighted Egypt's position as a link between Asia and Africa and reaffirmed the bank's commitment to supporting its development plans. She pointed to AIIB-backed projects in the country, including the Benban Solar Park, the Alexandria-Abu Qir Metro Line and the Damietta Port container terminal.

The bank chief also expressed support for government measures aimed at bolstering Egypt's economic resilience and promoting sustainable recovery.

Zou, who is also chair of the bank's Board of Directors, said her visit was intended to facilitate consultations with Egyptian authorities on development priorities for the coming period.

During the meeting, El-Sisi highlighted Egypt's recent infrastructure investments, including efforts to modernize transport systems, upgrade energy and telecommunications networks and increase the use of renewable energy.

He also highlighted measures to improve the investment environment, enhance competitiveness, widen the private sector's contribution to the economy and attract foreign capital.

The discussions also covered regional and international economic conditions, including the effects of geopolitical tensions on investment, financing and development prospects.

The meeting emphasizes Egypt's efforts to strengthen international financing partnerships as it targets infrastructure development and greater economic resilience.