Egyptian Minister of International Cooperation Sahar Nasr represented Egypt at the opening meeting of launching the Asian Infrastructure Investment Bank (AIIB), attended by President Xi Jinping.
The minister also attended the first meeting of the bank's board of governors during her visit to China as part of directives by Egyptian President Abdel Fattah El Sisi on the need to build strong economic relations with world countries and institutions and open new vistas for cooperation with Asia.
Diversifying sources of funding is one of the ministry's main strategies, the minister said, adding that representing Egypt at this timing is an important step to provide necessary support for several national mega projects.
The bank is expected to provide funding between dlrs 10 to 15 billion annually for various infrastructure projects over the coming five or six years in countries within its operations, including Egypt, she said.
The operations cover main sectors, namely energy, transport, urban and rural development and logistic services, she added.
The minister held several meetings with members of the bank's council including the governors of Germany, Brazil, Kuwait, the UAE, Jordan, India, Pakistan, Korea, Norway and Portugal.