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Egypt to participate in AIF2019 - Daily News Egypt

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Egypt to participate in AIF2019

AfDB is one of the key supporters of the Egyptian economy, says banks’ country manager

The African Development Bank (AfDB) along with the African Export-Import Bank (Afriximbank) will co-organise the second Africa Investment Forum (AIF) from 11 to 13 November in South Africa with the participation of an Egyptian delegation.

AIF represents a good opportunity for all the African countries to show their investment opportunities, Egypt’s Minister of Investment and International Cooperation, Sahar Nasr, said on Monday over the forum announcement event.

Nasr said that AfDB and Afriximbank are key development partners to Egypt, as both of them have supported important projects to the Egyptian economy across different sectors including; energy, agriculture, water resources, small and medium enterprises, and the information and communication technology.

Africa enjoys a great potential that requires special attention to boost the continent’s economic growth, Nasr added, noting that Africa’s GDP grew by 3.4% in 2018 while the intra-trade rose by 17% last year to reach $159bn.

MIIC is open to all proposals by institutions and investors participating in the AIF, Nasr said, asserting that Egypt will exert the required efforts to secure the AIF’ success this year building on 2018’s achieved positive results of the forum.

AfDB is one of the key supporters of the Egyptian economy through financing the national and megaprojects, AfDB’s Egypt Country Manager, Malinne Blomberg, said, adding that the bank has five priorities which are providing energy, lighting and sustainable development in various fields and guaranteeing the safe limit for the provision of food and supplies as well as fostering integration and cooperation between Egypt and all African countries that can benefit from Egyptian experience.

“One of the bank’s main objectives is to create more job opportunities for young people and women, which is a basic social demand in Egypt and the African continent in light of the population increase,” Blomberg mentioned, adding that the social role is at the top of the bank’s agenda and the Egyptian government to achieve a decent life for all Egyptians.

Blomberg asserted that she will present along with the Egyptian participants in the AIF2019 the huge potentials of the Egyptian market, adding that the Egyptian delegation from all sectors presented about $ 40 bn AIF2018.

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