Egypt looks to further develop AIIB’s strategy and translate national priorities into sustainable development projects

 

Finance Minister Ahmed Kouchouk affirmed that Egypt is seeking to expand the role of the Asian Infrastructure Investment Bank (AIIB) in providing development financing that meets member countries’ needs for more advanced and climate-resilient infrastructure.

 

“We also look forward to further developing AIIB’s strategy and translating national priorities into sustainable development projects,” Kouchouk said.

 

Speaking during AIIB meetings in Doha, the minister stressed the importance of further developing the bank’s financing policies to take into account the economic circumstances and development priorities of each member country.

 

Kouchouk pointed out that Egypt had implemented a wide range of development projects to upgrade infrastructure, transportation, electricity, water and sanitation, while accelerating the transition towards renewable energy.

 

He stressed the importance of leveraging concessional financing opportunities offered by development banks to expand electricity interconnection projects with neighboring countries and renewable energy projects.

 

The minister said providing innovative, long-term development financing in local currencies, coupled with stronger risk-sharing mechanisms, would help reduce financing and debt-servicing costs.

 

Mobilizing private capital and strengthening guarantee mechanisms would also help advance inclusive and sustainable private sector-led development, he added.

 

Kouchouk emphasized that linking financing with technical expertise and implementation capacity would improve the management of public investments and create a stable environment that provides greater predictability over the pipeline and scale of projects.