Egypt Eyes Investments worth USD 15 bn from AIIB in Five Years

Monday, 15th May 2017

Egypt is eying investments worth USD 15 bn from the Asian Infrastructure Investment Bank (AIIB) to fund infrastructure projects in the coming five years, Invest-Gate reports.

“Egypt has launched a number of giant projects, including the Suez Canal Development Zone, the New Administrative City, and the Golden Triangle, as well as the 1.2 mn-feddan land reclamation project that will help boost the private sector participation in the country’s development,” Minister of Investment and International Cooperation Sahar Nasr says during her participation in a high-level session of the two-day Belt and Road Forum for International Cooperation which kickstarted in Beijing today.
Chinese President Xi Jinping unveiled the initiative in 2013, aiming to expand links between Asia, Africa, Europe, and beyond, underpinned by billions of dollars in infrastructure investment.
Xi pledged a massive funding boost to the new Silk Road, including CNY 250 bn in loans from the China Development Bank.

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