{"id":606001,"date":"2023-09-10T00:00:00","date_gmt":"2023-09-10T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/10\/what-do-private-sector-players-want-from-the-aiib\/"},"modified":"2023-09-10T00:00:00","modified_gmt":"2023-09-10T00:00:00","slug":"what-do-private-sector-players-want-from-the-aiib","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/10\/what-do-private-sector-players-want-from-the-aiib\/","title":{"rendered":"What do private sector players want from the AIIB?"},"content":{"rendered":"

Private-sector players talk with the AIIB: <\/strong>Asian Infrastructure Investment Bank<\/a>(AIIB) officials virtually joined Finance Minister Mohamed Maait, Deputy Finance Minister Ahmed Kouchouk, and a number of private sector players at the Finance Ministry\u2019s new headquarters in the new administrative capital on Thursday to discuss how the Beijing-backed multilateral lender can benefit private-sector players ahead of the bank\u2019s a<\/a> nnual meetin<\/a> g<\/a> in Sharm El Sheikh later this month. Enterprise was in attendance.<\/p>\n

AIIB and Egypt have some history: <\/strong>Egypt was one of the bank\u2019s founding members, helping bring it to life in 2016. So far we have received nearly USD 1.3 bn in the funding from the bank, across five projects, the latest of which was a EUR 250 mn loan<\/a> for the redevelopment of the Abu Qir railway in Alexandria. Maait is Egypt\u2019s governor to the bank, while Kouchouk is the bank\u2019s director for constituency six<\/a>, which includes Egypt, Algeria, Argentina, Brazil, Morocco, Sudan, and Tunisia, among 12 other countries. <\/p>\n

The beginning of a bigger conversation: <\/strong>Thursday\u2019s discussion came in the lead-up to the bank\u2019s 2023 annual meeting, which takes place on 25-26 September in Sharm El Sheikh. The meeting is the bank\u2019s first post-covid, in-person event and the first to be hosted by an African country. <\/p>\n

We need resilient infrastructure: <\/strong>\u201cWe can respond to climate change by improving the quality and accessibility of infrastructure services,\u201d AIIB\u2019s VP and Corporate Secretary Ludger Schuknecht (LinkedIn<\/a>) said. \u201cWe have to enhance the resilience and adaptability of infrastructure systems to shocks and stresses such as natural disasters and climate change, and we need to increase the transparency and accountability of infrastructure governance and management such as procurement, financing, and monitoring.\u201d <\/p>\n

And that takes serious investment: <\/strong>\u201cThe world faces a roughly USD 50 tn gap between projected investment and the end amount needed to provide adequate global infrastructure by 2040,\u201d Shucknecht said. \u201cFor Egypt alone, that figure is projected to be USD 675 bn between now and 2040 \u2026 this is an amount that cannot be met by governments and [multilateral development banks] alone,\u201d he added.<\/p>\n

Private-sector involvement is crucial: <\/strong>\u201cPrivate equity is necessary to ensure infrastructure projects are being built,\u201d Schuknecht continued. \u201cThe infrastructure gap is critically high for critical infrastructure such as energy, telecommunications, transport, and climate-resilient infrastructure.\u201d AAIB is also \u201cworking with its members on transport and logistics projects to help bottlenecks and facilitate connectivity in cross border trade\u201d, he said.<\/p>\n

The AIIB de-risks projects: <\/strong>\u201cAIIB can help member countries unlock leverage and catalyze private-sector finance for investment. The bank can provide policy guidance and financial support \u2026 to sufficiently change the risk-reward balance to attract private capital to infrastructure opportunities,\u201d said AIIB board member Fabrizio Costa (bio<\/a>). <\/p>\n

Some 40% of the bank\u2019s funded projects are in the private sector: <\/strong>\u201cToday we have already financed 231 projects in 35 member countries, with a total approved funding of USD 44 bn, including 97 private sector projects \u2026 within this active portfolio, in one third of projects we mobilize capital to leverage our own investments,\u201d said the bank\u2019s VP of investment operations, Konstantin Limitovskiy (LinkedIn<\/a>). <\/p>\n

AIIB offers concessional financing: <\/strong>\u201cIt is important to support the private sector, we are very happy to do so. We are happy to take more risk for a longer tenor compared to the more commercially-oriented lenders. We can do this through USD financing, investments, capital market issuances, or selective equity investments,\u201d said Director-General, Region 2 Banking, Najeeb Haider (LinkedIn<\/a>).<\/p>\n

What projects is the bank after? <\/strong>\u201cWhen we work with the private sector we have several key goals: We want to selectively engage in transformative projects to have significant impact, particularly by investing in infrastructure in the private sector and increasing private capital mobilization. We want to support the private sector in developing high quality and resilient infrastructure. We want to promote a green economy to stimulate growth, and develop digital infrastructure to foster innovation,\u201d Limitovskiy continued. \u201cThe top three sectors which we finance today are transport, energy, and multisector.\u201d <\/p>\n

It\u2019s not all sunshine and rainbows: <\/strong>\u201cWe need to be aware that we are also facing some challenges when we work with the private sector. As a bank we have to be cautious of the country \u2026 aligning our financing approach with current market conditions. At AIIB we aim to provide competitive financing packages while avoiding underpricing or undercutting commercial lenders,\u201d Limitovskiy said.<\/p>\n","protected":false},"excerpt":{"rendered":"

AIIB officials join FinMin, private sector players to explore how the bank can help Egypt\u2019s private sector<\/p>\n","protected":false},"author":1,"featured_media":606002,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7272],"tags":[782,2399,204,101,72,276,125,277],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-606001","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-ahmed-kouchouk","tag-asian-infrastructure-investment-bank","tag-banking","tag-development-finance","tag-enterpriseam","tag-finance-ministry","tag-investment-watch","tag-mohamed-maait","wpautop","entry"],"acf":{"mongo_id":"87ebabaa-aeb8-4016-aca0-be1725621677","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/9\/648.jpg","photo_position":"above","homepage_title":"","full_issue_title":"AIIB 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The Beijing-headquartered Asian Infrastructure Investment Bank (AIIB) has approved a USD 360 mn loan to support Egypt\u2019s post-covid economic recovery, according to a cabinet statement.The facility matches a separate USD 360 mn loan approved by the World Bank in October, under\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/11\/581.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":589291,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/25\/aiib-is-a-potential-guarantor-for-our-next-green-bonds-sale\/","url_meta":{"origin":606001,"position":1},"title":"AIIB is a potential guarantor for our next green bonds sale","author":"enterpriseam admin","date":"25 June 2023","format":false,"excerpt":"This would be AIIB\u2019s first guarantee of a country\u2019s green bonds issuance","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/6\/1206.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":556556,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/31\/world-bank-okays-usd-360-mn-loan-for-egypts-post-covid-recovery\/","url_meta":{"origin":606001,"position":2},"title":"World Bank okays USD 360 mn loan for Egypt\u2019s post-covid recovery","author":"enterpriseam admin","date":"31 October 2021","format":false,"excerpt":"We\u2019re getting a fresh USD 360 mn World Bank loan: The World Bank has approved a USD 360 mn facility to support the Egyptian economy as it recovers from the covid pandemic, the global lender said in a statement(pdf) on Thursday. The development policy financing (DPF) loan will be used\u2026","rel":"","context":"In "Development finance"","block_context":{"text":"Development finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/development-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/10\/324.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":606902,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/24\/aiib-has-a-pipeline-north-of-usd-1-bn-for-egypt-including-backing-our-maiden-panda-bond-kouchouk\/","url_meta":{"origin":606001,"position":3},"title":"AIIB has a pipeline north of USD 1 bn for Egypt, including backing our maiden panda bond \u2013Kouchouk","author":"enterpriseam admin","date":"24 September 2023","format":false,"excerpt":"We spoke with Kouchouk, who also leads constituency six at the AIIB, ahead of the multilateral lender\u2019s annual meeting tomorrow and Tuesday in Sharm El Sheikh","rel":"","context":"In "Spotlight"","block_context":{"text":"Spotlight","link":"https:\/\/enterpriseam.com\/egypt\/category\/explainers\/spotlight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1396.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":575551,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/19\/egypts-finance-minister-maait-talks-economy-in-imf-world-bank-meetings\/","url_meta":{"origin":606001,"position":4},"title":"Egypt\u2019s Finance Minister Maait talks economy in IMF, World Bank meetings","author":"enterpriseam admin","date":"19 October 2020","format":false,"excerpt":"INVESTMENT WATCH- FinMin pitches investment strategy, improving economic landscape to investors: Egypt is prioritizing investments in the transport, oil and gas, renewable energy, and manufacturing sectors, Finance Minister Mohamed Maait said in separate meetings with senior representatives from HSBC and Standard Chartered and unnamed foreign investors, according to a ministry\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":590197,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/16\/aiib-to-provide-eur-250-mn-loan-for-abu-qir-metro-project\/","url_meta":{"origin":606001,"position":5},"title":"AIIB to provide EUR 250 mn loan for Abu Qir metro project","author":"enterpriseam admin","date":"16 July 2023","format":false,"excerpt":"This is around a sixth of the EUR 1.6 bn project, which will convert the Abu Qir railway into an underground metro line","rel":"","context":"In "Infrastructure"","block_context":{"text":"Infrastructure","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/infrastructure\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/7\/551.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/606001","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=606001"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/606001\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/605996"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/606002"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=606001"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=606001"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=606001"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=606001"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=606001"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}