The esteemed Planning Minister, Hala al-Saeed, had the honor of attending the 47th annual meeting of the Islamic Development Bank (IsDB) and the World Economic Forum. Held in Riyadh from April 27-30, these important events coincided with the 50-year anniversary of the establishment of the esteemed bank.
The Minister of Planning and Economic Development, Hala El Saeed, has recently revealed that the Islamic Development Bank (IsDB) has significantly increased its investment portfolio in Egypt, reaching a remarkable $22 billion.
The announcement was made during the 2024 Annual Meetings of the IsDB in Riyadh, where El Said highlighted the bank’s extensive involvement in various sectors. This substantial investment by the IsDB will undoubtedly have a positive impact on Egypt’s economy.
The Islamic Development Bank (IsDB) has invested in a wide range of 395 projects in Egypt, covering crucial areas such as electricity, infrastructure, and transport. These investments have had a significant positive impact on the growth of the Egyptian economy, as highlighted by the country’s Minister of Planning and Economic Development, Hala El-Saeed. Notably, the country’s exports have witnessed a remarkable 20% increase, to $52 billion.
Recognizing the crucial role of international cooperation, El Saeed emphasized the need for developing countries to receive increased foreign direct investment and support for projects, studies, and education.
She underscored the immense potential of young talent in these countries who require support. Although developing countries represent 85% of the global population and produce 45% of international goods, strategic partnerships can benefit everyone.
