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Elham AbolFateh

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Asian Bank invests $ 510 million in sustainable infrastructure in Egypt

Sunday 09/December/2018 - 02:10 PM
Sada El Balad
Mohamed Emad

The Board of Directors of the Asian Bank for Infrastructure Investment (AIIB) has approved up to $ 510 million to finance two infrastructure projects in Egypt on Sunday.

The two projects، jointly funded by the Egyptian government and other lenders، will contribute to the country's transition to a green and clean economy.

Noteworthy، a delegation of the Asian Infrastructure Investment Bank (AIIB) will conclude a trip to Egypt on Thursday by visiting the site of a national solar energy project in the Upper Egyptian city of Aswan، Xinhua has reported.

The total cost of Aswan project hits around 210 million U.S. dollars.

The bank delegates held important talks with government officials and investment banks in Egypt for setting up joint ventures especially in the infrastructure and energy fields، said Finance Minister Mohamed Ma'it in a statement on Thursday.

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