AIIB looking to more investments in Egypt: Bank official

Doaa A. Moneim, Thursday 25 Jul 2019

Egypt's Minister of Trade and Industry Amr Nassar (r) in a meeting with AIIB delegation

Vice chairman for investment operations at the Asian Infrastructure Investment Bank (AIIB) DJ Pandian has announced that the bank is seeking to establish more investment projects in Egypt, describing it as one of the most promising markets in the Middle East and Africa.

"AIIB, with a capital of $100 billion, involves 97 countries as members including Egypt, while China has the lion share in it, followed by India, Russia, Germany and South Korea," Pandian said.

Pandian's statements came during a meeting with Egypt's Ministry of Trade and Industry Amr Nassar, which touched upon the AIIB's current projects in Egypt and the funding programmes that it will adopt in the Egyptian market in the coming period.

"We discussed the Egyptian government's plan to expand to establish industrial complexes and how the AIIB can offer finances. Egypt is the first country to which the AIIB has offered funds outside of the Asian continent, which reflects the importance of Egypt on the global investment map," Nassar said.

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