Egypt’s Minister of Finance and Egypt’s Governor at the New Development Bank (NDB) Mohamed Maeet Tuesday asserted keenness on bolstering joint development investments among member states of the bank, through exploring new segments of regional cooperation and achieving economic integration in face of trans-border challenges.
He added that mobilizing joint investments among NDB members seeks building more flexible and sustainable economies in the future, driven by the private sector.
The minister was addressing the inaugural seminar of the New Development Bank, which took place in the New Administrative Capital (NAC) in the presence of Prime Minister Moustafa Madbouli.
The strategic partnership with the NDB is aligned with Egypt’s priorities toward achieving economic and social development along with propelling inclusive economic growth, Maeet said.
“We are looking forward to expanding in development projects covering the sectors of clean energy, health, education, water, transport as well as logistic services,” Maeet said.
He highlighted aims to secure a favorable climate for digital transformation, entrepreneurship and switch to the knowledge economy.
The NDB has a crucial role in fulfilling the infrastructure and sustainable development requirements of emerging economies, specially across member states of the bank, Maeet said.
The two-day NDB seminar kicks off on Tuesday under the theme “Navigating New Horizons.”
Egypt has been a member of the bank since March 2023 and a member of the BRICS since January 2024.
The NDB enhances integration within the multilateral development bank system and provides more financing opportunities for developing and emerging economies. It also focuses on promoting financing for infrastructure projects and sustainable development in BRICS countries and other emerging and developing economies.
