Egypt requests to join China’s proposed AIIB
China's President Xi Jinping (C) guides guests at the Asian Infrastructure Investment Bank - REUTERS
By

CAIRO: Egypt filed a membership request at the Asian Infrastructure Investment Bank (AIIB) Tuesday, with the Chinese government welcoming the step, Youm7 reported.

A total of 47 states have been requested to join the bank, as proposed by Chinese President Xi Jinping, with a capital of $50 billion, the Financial Times reported. Egypt, however, is the first African state to apply, according to Youm7.

Egypt’s requested membership with the AIIB, whose capital is planned to double in a year, comes amid blooming economic relations with China, a strong investor in Egypt.

In the context of Egypt’s efforts to assume international positions, Egyptian ambassador to Ghana Mohamed Haydar has met with Ghanaian Vice President Kwesi Amissah-Arthur, requesting Accra’s support to Egypt in its bid for a non-permanent membership at the Security Council in 2016/2017, Youm7 reported.

In his September speech at the United Nations General Assembly, President Abdel Fatah al-Sisi called on member states to support Egypt’s bid to “achieve the interests of developing countries.”

Recommend to friends

Leave a comment