AIIB’s investment portfolio in Egypt reaches $1.3bln since 2016

The Asian Infrastructure Investment Bank’s (AIIB) development cooperation portfolio in Egypt has reached a total investment of $1.3 billion, since the country officially joined its membership in 2016.

According to a statement by the Egyptian Ministry of International Cooperation, the AIIB has provided $210 million in debt financing to support the construction of 11 solar plants, with total 490MW in aggregate capacity. It also offered a credit line of $150 million for the National Bank of Egypt.

The statement which released in conjunction with the AIIB’s annual meetings taking place in Sharm El Sheikh on Monday, showed that the bank has also distributed $300 million to finance water projects and $250 million for Alexandria’s Abu Qir Metro Line.