The Minister of International Cooperation, Rania Al Mashat, held a meeting with the Vice President of the New Development Bank, Vladimir Kazbekov, and his delegation to strengthen cooperation in various priority areas.
The meeting 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 with Vice President Kazbekov, which 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 towards the private sector.
It’s important to note that Egypt will officially join the BRICS bloc in January 2024, alongside countries such as Saudi Arabia and the UAE. This membership is expected to open up new avenues for global influence and investment opportunities for Egypt. The NDB was established by the founding members of the BRICS bloc (Brazil, Russia, India, China, and South Africa) during the fourth BRICS summit in New Delhi in 2012.
