$100 billion: The Asian Investment Bank’s portfolio in the world

President Abdel Fattah El-Sisi said, during his speech today at the annual meeting of the Asian Infrastructure Investment Bank on Monday: “We had the opportunity to host this conference after three virtual meetings, and in Egypt we are hosting it in Sharm El-Sheikh.”

$100 billion

The president added: “Our appreciation for the bank and the great role it played during the eight years, and the level it reached in a period of time that is not considered large, because it is considered almost the second multilateral bank in the world, with a portfolio of up to 100 billion dollars, rated by agencies from Fitch, for example.”

Asian Infrastructure Investment Bank

Egyptian Finance Minister Mohamed Maait confirmed that the Asian Infrastructure

Investment Bank is interested in investing in the African continent and has a great interest in achieving communication between Africa and Asia, on the eve of the bank’s eighth annual meeting in the Egyptian resort of Sharm El-Sheikh.

Maait said in an exclusive interview with Xinhua News Agency on Sunday that holding the annual meeting of the Asian Infrastructure Investment Bank in the Sharm El-Sheikh resort in Egypt “has a very strong significance, and sends an important message that the bank is interested in investing in the African continent and has "Great interest in achieving communication between Africa and Asia."

Asian Infrastructure Investment Bank

Today (Monday), the eighth annual meeting of the Asian Infrastructure Investment Bank begins in the Egyptian resort of Sharm El-Sheikh for the first time on the African continent, and will continue for two days.
Low-cost financing

The Egyptian Minister of Finance confirmed that his country will be the voice of Africa during these annual meetings with the Asian Bank and international financing institutions, stressing Egypt's interest in the African continent and its issues in various fields as it constitutes a strategic direction for the Egyptian political leadership.

Maait expressed his belief that “Africa has been unjust in its desperate need for low-cost financing, not only for its food security, energy security, and others, but primarily for the establishment of infrastructure that will help it create growth, improve the standard of living of its citizens, and create job opportunities for them.”

He continued, "Therefore, we hope that the Asian Infrastructure Investment Bank will pay greater attention in the next stage to investments in infrastructure and areas related to climate change and the green economy" on the African continent.

Asian Bank

He added that the Asian Bank is required to look more carefully at the African continent and contribute to its development by allocating more resources for investment and supporting its development plans, and contributing to financing the areas that the countries of the continent need most in terms of infrastructure development, especially in transportation, communications, energy and other development sectors. Mission and vitality.

He stressed that Egypt supports this trend, saying, "We are proud that Egypt represents the African continent on the Board of Directors of the Asian Infrastructure Investment Bank, so we are pushing within the bank in this direction by supporting investments in the African continent."

The Egyptian Minister praised the Asian Bank's approach to dealing positively with the problem of climate change, stressing the importance of this trend.
He said, "The African continent is one of the continents that suffer most from the effects of climate change."