Egypt seeks new infrastructure financing and AIIB partnership

Egypt is pursuing new strategies to finance infrastructure and support sustainable development. Finance Minister Ahmed Kojak expressed interest in strengthening the partnership with the Asian Infrastructure Investment Bank (AIIB) to focus on priority sectors and climate-resilient projects. Kojak highlighted Egypt’s strategic position as a potential hub for economic connectivity between Asia and Africa, emphasizing the need to diversify funding sources and utilize innovative mechanisms to attract private sector investment.

Simultaneously, Minister of Planning and Economic Development Ahmed Rostom announced the development of the Egypt Infrastructure Financing Guarantee Facility (IFGF). This mechanism is designed to provide guarantees for infrastructure projects, aiming to mobilize long-term financing in local currency. The initiative seeks to reduce pressure on the state budget and increase private sector involvement, particularly in the water and renewable energy sectors, to build more resilient economies against geopolitical and climate-related challenges.