MOIC, NDB discuss cooperation across development sectors – Egypt Today

MOIC, NDB discuss cooperation across development sectors – Egypt Today

CAIRO - 14 January 2024: The Minister of International Cooperation Rania Al Mashat, and the held a meeting with the New Development Bank’s Vice President Vladimir Kazbekov and his accompanying delegation to strengthen their collaborative in various priority areas.

The meeting primarily focused on advancing Egypt's green transition strategy, supporting efforts to increase investment in human capital, implementing green development projects, and discussing the national platform "NWFE" program, as well as other priority sectors.

During the meeting, Al Mashat shared the Ministry's 2023 annual report for 2023 with Vice President Kazbekov. The report provided a comprehensive overview of projects executed over the past four years, amounting to a total of $38.8 billion.

Of this amount, $28.5 billion was allocated to various sectors within the state, while $10.3 billion was directed toward the private sector.

As Egypt officially joins the BRICS bloc in January 2024, alongside countries like Saudi Arabia, the UAE, and others, a new chapter marked by economic promise begins. This membership is expected to open up new avenues for global influence and investment opportunities for Egypt.

It is important to note that the NDB was established by the founding members of the BRICS bloc (Brazil, Russia, India, China, and South Africa) during the