Egyptian minister arrives in Beijing to take part in AIIB opening ceremony

International Cooperation Minister Sahar Nassr on Friday arrived in Beijing to take part the Asian Infrastructure Investment Bank (AIIB).

During the several days' visit, the minister will meet with a number of Chinese officials on ways of boosting bilateral ties.

AIIB, formally established on Dec. 25 last year, is set to begin operation following an inauguration ceremony on Saturday, showcasing the commitment of the world's second largest economy to making substantial contributions to renewed global economic governance.

In 2013, Chinese President Xi Jinping, who will address Saturday's ceremony, first proposed the global multilateral financial institution, which has now developed into a 57-member body in just two years, with further enlargement highly anticipated.

On June 29, Egypt took part in the signing ceremony of an agreement on the establishment of the AIIB.

The Beijing-headquarted bank, with a capital of 100 billion dollars, groups six Arab members, namely Kuwait, Oman, Qatar, Saudi Arabia, Jordan and Egypt.