Focus on Infrastructure for Developing Nations
Focus on Infrastructure Investments for Some Developing Nations
Some interesting movement from Turkey and Egypt on boosting infrastructure investments.
The latest from Mondaq:
Turkey has ratified the foundation of the Asian Infrastructure Investment Bank (“AIIB”) into local law as one of the project’s co-founders. The AIIB project highlights the importance of regional cooperation to sustain growth in Asian economies, as well as promote economic and social development. The USD $100 billion project aims to contribute to regional resilience against financial crises and other external shocks in the context of globalization.
Minister of Planning Ashraf El-Araby revealed that the government will establish a sovereign wealth fund to invest in infrastructure. The fund will be owned by the state with subsidiaries funds for different sectors, including agriculture, electricity, and industry. A number of Arab investment funds will participate with 50%.