Vice President Zhang Wencai Leads a Delegation to Egypt to Attend the 2023 AIIB Annual Meeting

2023-09-28

On September 23 to 28, Zhang Wencai, Vice President of the Export-Import Bank of China, led a delegation to Egypt, where he attended the 2023 Asian Infrastructure Investment Bank(AIIB) Annual Meeting, signed a loan facility agreement with Africa Finance Corporation(AFC) and held talks with government officials and multilateral financial institution leaders.
During the AIIB Annual Meeting,Vice President Zhang attended the seminar themed “Mainstreaming Nature and Biodiversity in Infrastructure Financing” , shared his views on how to address the development financing gap and the internal and external challenges in supporting biodiversity conservation, and introdcued China Eximbank’s practices. Vice President Zhang also signed a USD300 million loan facility agreement with AFC, which will contribute to China-Africa third-party market cooperation and further strengthen China-Africa economic and trade ties. 
 

Vice President Zhang met with the Minister of Finance, the Minister of International Cooperation, the Minister of Civil Aviation and the Deputy Governor of the Central Bank of Egypt respectively to exchange views on deepening bilateral economic and financial cooperation, promoting key projects and advancing RMB financing cooperation. He also held talks with the State Secretariat of the Ministry of Economic Development of Hungary and the Minister for Finance and National Planning of Tonga on fund cooperation and project-level debt management. Vice President Zhang met with leaders of the AIIB, the African Development Bank, AFC, the European Investment Bank and the European Bank for Reconstruction and Development to discuss how to promote the economic sustainability of developing countries and realize mutual benefits and win-win outcomes. All parties agreed to further tap into the potential of cooperation, give full play to international multilateral and bilateral platforms, step up third-party market cooperation and strengthen knowledge sharing and exchange. 

 

During his stay in Egypt, Vice President Zhang visited the Embassy of the People’s Republic of China for in-depth exchanges on the progress of the sovereign projects supported by China Eximbank in Egypt and promoting sustainable development of the comprehensive strategic partnership between the two countries. He was briefed about the work of China Eximbank’s Representative Office for Southern and Eastern Africa, made field trips to projects including the 10th of Ramadan Railway Project, and held a meeting with major Chinese enterprises in Egypt on project management in Africa, China-Africa economic and trade cooperation as well as future business expansion.