The Arab Investment Bank (AIB) is planning to participate in funding the proposed projects presented at March’s Economic Summit, board director Hany Seif El-Nasr announced on Thursday.
Seif El-Nasr expects huge investor participation in the summit, adding that investors are waiting for the event to study projects, including the Suez Canal Axis Development.
In the past six months, the Egyptian economy’s performance has improved, Seif El-Nasr added, noting that this will send a “good message” to the international community.
The government has tasked a number of domestic market investment banks with promoting projects that the government will present during the summit. It is set to host approximately 3,500 investors and financial institutions from 120 countries.
Three investment banks – CI Capital, Cairo Financial Holding (CFH) and Pioneers Holding Company (PHC) – have decided to promote 11 development projects mandated by the Ministry of Investment.
CI Capital is tasked to promote three of the 11 projects in the fields of transportation, electricity and real estate development, while eight projects were distributed equally between CFH and PHC.