Sisi participates in roundtable on investment in infrastructure in Africa

President Abdel Fattah El Sisi attended on Monday evening a roundtable, hosted by German Chancellor Angela Merkel, on investment in infrastructure in Africa.

The roundtable was attended by African leaders participating in the G20 Africa Partnership Conference, President of the African Development Bank (AfDB) Akinwumi Adesina, as well as heads of major German companies.

In statements, Presidential Spokesman Alaa Youssef said that the meeting focused on means of developing infrastructure in the African Continent and securing necessary funds for this purpose.

The participants also reviewed successful experiments in carrying out infrastructure projects in Africa and means of beefing up investments in this field, the spokesman added.

During the meeting, Merkel stressed the importance of political leaders' role in creating a conducive investment climate and strengthening the public-private partnerships, the spokesman said.

He added that Merkel also lauded President Sisi's role in negotiations with "Siemens" company to set up three giant power plants in Egypt. Each of the is set to become the biggest gas-fired combined-cycle power station in the world. Altogether, the three power plants will have a combined capacity of 14.4 GW.

For his part, Siemens CEO Joe Kaeser praised the successful cooperation between the Egyptian government and his company, saying it is a role model for public-private partnership.

Speaking at the meeting, President Sisi said Africa has great potentials for economic development and growth that allows the continent to achieve a development boom if necessary funds were appropriated.

The African continent needs new and unconventional mechanisms to finance its infrastructure, Sisi said, stressing the importance of establishing road and railway networks to connect the entire continent.

Sisi also urged international financial institutions and developed countries, in collaboration with African governments, to channel their financial resources in projects in Africa.

The president also called on developed countries to abide by their commitments under the Climate Change Agreement with the view to implementing renewable energy projects in the African continent, the spokesman said.

Source: MENA