Egypt’s trade ministry, IDB discuss increasing support to industrial, export sectors

Egypt’s trade ministry, IDB discuss increasing support to industrial, export sectors

She stressed her ministry's keenness to maintain constant communication with the Central Bank of Egypt (CBE) in addition to banks working in the Egyptian market. This includes the IDB which she said is a pillar of the domestic banking system.This will provide more financing mechanisms across Egypt's industrial sector, to contribute to creating industrial entities capable of meeting local market needs and exporting to foreign markets.The minister said the meeting dealt with the importance of the bank granting more financing mechanisms and programmes to investors at industrial complexes. This covers both complexes established by the ministry, or by the New Urban Communities Authorities (NUCA) and Governorates.The programmes to help these investors establish and expand their projects will contribute to increasing rates of productivity in Egypt's industrial sector, and create more job opportunities for Egyptian youth. It will also highlight the importance of the IDB's participation in the initiative to replace and convert vehicles to work with clean energy, which was launched by President Abdel Fattah Al-Sisi earlier this month.Gamea added that the development and promotion of exports is a major focus among the ministry's objectives during the next stage. It requires the availability of easy financing programmes, to help exporting