Singapore's economy grows in Q2 '25    Egypt's PM inaugurates Alexandria's first smart water control centre    Gold prices dip slightly on Monday trading    Pakistan names Qatari royal as brand ambassador after 'Killer Mountain' climb    EU prepared to retaliate with €21b tariff package – Italy's FM    Al-Sisi reaffirms Egypt's commitment to African security, development at AU Mid-Year Summit    Dozens of Palestinians killed by Israeli fire near Gaza aid site    Health Ministry denies claims of meningitis-related deaths among siblings    Egypt's Contact insurance arms, Germany's GIZ partner on SMEs, gender equity    Egypt and Italy mark 50 years of science partnership, discuss future cooperation    Egypt establishes Real Estate Market Regulation Unit to oversee sector transparency    Egypt's Health Min. discusses drug localisation with Sandoz    Egypt, Mexico discuss environmental cooperation, combating desertification    Needle-spiking attacks in France prompt government warning, public fear    Foreign, housing ministers discuss Egypt's role in African development push    Egypt's EDA, Haleon discuss local market support    Korea Culture Week in Egypt to blend K-Pop with traditional arts    Egypt, France FMs review Gaza ceasefire efforts, reconstruction    CIB finances Giza Pyramids Sound and Light Show redevelopment with EGP 963m loan    Greco-Roman tombs with hieroglyphic inscriptions discovered in Aswan    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Egypt condemns deadly terrorist attack in Niger    Sisi launches new support initiative for families of war, terrorism victims    Egypt's GAH, Spain's Konecta discuss digital health partnership    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Cabinet approves establishment of national medical tourism council to boost healthcare sector    Egypt's PM follows up on Julius Nyerere dam project in Tanzania    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Egypt looks into China AIIB Bank's cooperation opportunities at IMF Meetings
Published in Amwal Al Ghad on 08 - 10 - 2016

Egypt is looking into the China-led Asian Infrastructure Investment Bank (AIIB)'s support for a number of infrastructure and developmental projects in the coming period.
On the sidelines of the International Monetary Fund and World Bank annual meetings in Washington, Egypt's Minister of Finance Amr el-Garhy and Minister of International Cooperation Sahar Nasr have met Friday evening with AIIB representatives to discuss cooperation opportunities.
The Egyptian ministers expressed their country's willingness to cooperate with the AIIB to finance a number of infrastructure and developmental projects in road, bridges, energy, electricity, and sanitation sectors that would meet with citizens' needs.
Egypt has recently paid the first tranche of its total $650 million commitment to the AIIB's capital, the two Egyptian ministers told reporters following their meeting with the Asian bank representatives.
Earlier on June 29, 2015, Egypt signed an article of agreement to contribute to AIIB's capital.
First proposed by Chinese President Xi Jinping two years ago, the bank has become one of China's biggest foreign policy successes. Despite the opposition of Washington, major U.S. allies such as Australia, Britain, Germany, Italy, the Philippines and South Korea have joined.
AIIB was formally established at the end of 2015 with 57 countries agreeing to be members, 19 of which are Asian, according to the bank's website.
The capital of the bank is $100 billion, equivalent to 2⁄3 of the capital of the Asian Development Bank and about half that of the World Bank.
The AIIB's mandate will be to fund projects both inside and outside of Asia.


Clic here to read the story from its source.