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AIIB meets in Egypt to attract climate financing: VP

During its eighth annual meeting in Sharm El-Sheikh, the Asian Infrastructure Investment Bank (AIIB) is aiming to bring more partners on board.
26.09.23 | Source: Ahram Online

Alexander made his comments in response to a question from Ahram Online about how the bank will support Egypt’s efforts to fight climate change, build sustainability, and make the green transition.

The exchange took place during a press conference Monday on the sidelines of the two-day annual meeting being held in Sharm El-Sheikh through Tuesday.

This year’s AIIB meeting is the first to be held in Africa and the first to be held in-person since the COVID-19 pandemic.

“The largest portfolio the bank invests outside Asia is in Egypt with an ongoing portfolio worth $1.3 billion. We are willing to invest more going forward under our climate action plan 2024-2030 that we launched today,” Alexander told Ahram Online.

During the event, AIIB President Jin Liqun announced the bank’s plan for climate action, through which it aims to bring capital and capacity to support its members’ efforts to combat climate change.