Cairo – Mubasher: The Asian Infrastructure Investment Bank (AIIB) and the World Bank have earmarked a total of $720 million for Egypt’s development policies, Minister of International Cooperation, Rania El-Mashat, announced.
The executive management of the AIIB, one of the Arab republic’s development partners, agreed to provide Egypt with $360 million to help the country recover from the impact of the COVID-19 pandemic while boosting the economic and structural reform programme, El-Mashat noted in a ministry statement on Tuesday.
Egypt’s portfolio with the China-based AIIB has exceeded $1 billion in development and investment financing for both the private and public sectors.
