AIIB’s 8th meeting concludes in Egypt with call for climate financing innovation

Over Monday and Tuesday, Egypt hosted the AIIB’s eighth meeting in Sharm El Sheikh under the theme “Sustainable Growth in a Challenging World.”

The meeting was the first ever to be held in an African country and the first in-person the bank held since the outbreak of the COVID-19 pandemic in 2019.

In a panel discussion, Egypt’s Minister of Finance Mohamed Maait said that Egypt is anticipating receiving $1 billion in financing from the AIIB to support the private sector, with some of the money going to the construction of a metro line in Alexandria and credit lines to a number of banks.