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  • Wednesday, 13 April 2022

Egypt’s Minister of International Cooperation, Asian Infrastructure Investment Bank’s Vice President Reaffirm the Need for Smart, Citizen-Centered Cities and Climate-Resilient Infrastructure

 After nearly 3 years since the last visit to Egypt, the Minister of International Cooperation, H.E. Dr. Rania A. Al-Mashat held a meeting with Ludger Schuknecht, Vice President and Corporate Secretary of the Asian Infrastructure Investment Bank, to reaffirm commitment to unlocking cooperation in climate-resilient infrastructure and smart cities. 

The Minister highlighted that the Government of Egypt remains closely engaged with the 

investment policies and strategies of international development partners, financial institutions and the private sector, working under the vision of cooperative governance to align priorities, resources and knowledge to implement more sustainable projects in Egypt.

The Ministry’s country-led multi-stakeholder engagement framework unpacks two facets of collaboration: cooperation and coordination. Under a strategic umbrella to scale up policies in all sectors, the framework aligns partners' commitment and interests with national priorities as a key determinant of collaborative success. In the same vein, the Ministry also pays attention to the critical role of coordination, which helps resolve gaps and challenges, and ensures that all partners participate in all stages of a project’s life cycle.

The Minister noted that the Government of Egypt has embarked on a number of economic reforms that have contributed to the infrastructure boom over the past couple of years, as over the next few years, the Egyptian government plans to introduce 38 new smart cities across the country. 

However, the sustainability of these smart city projects relies on the integration of stakeholders’ interests and public-private partnerships, creating a supportive ecosystem through an efficient smart city platform that brings together development partners, investors, researchers and other smart city actors together to reach Egypt’s energy and climate targets.

For his part, Ludger Schuknecht, Vice President and Corporate Secretary of the Asian Infrastructure Investment Bank, noted that he looks forward to engaging with the government's policies, as Egypt enjoys a large portfolio with the Bank exceeding one billion dollars, which includes investments directed to the private sector.