Nasr in talks with AIIB over drainage project in needy villages

Egyptian International Cooperation and Investment Minister Sahar Nasr met with Vice President of the Asian Infrastructure Investment Bank D. J. Pandian to discuss the implementation of the second stage of a drainage project in the most needy villages.

The meeting came on the sidelines of Nasr's participation in the spring meetings of the World Bank in Washington.

Talks also tackled increasing the volume of cooperation between Egypt and the bank, especially in the domains of drainage, transport and energy, according to a statement by the Egyptian International Cooperation and Investment Ministry.

Nasr expressed hope of further cooperation with the bank within the coming period in accordance with the priorities of the Egyptian government and its economic program.

She underlined the importance of financing development projects that better serve citizens and improve their living standards, including setting up more bridges, roads and power and drainage grids.

The bank official expressed keenness on investing in several domains in Egypt as part of efforts to boost the Egyptian government's ambitious reform program.

He unveiled the bank's plans to provide from 10 to 15 billion dollars annually to finance infrastructure projects in Egypt and other countries within the coming five years.

The two sides agreed to send a mission of the bank to Egypt to stand on the projects the country needs.

Source: MENA