Egypt’s Minister of Planning and Economic Development, Ahmed Rustum, was engaged in a series of bilateral talks with senior government officials and international institutions, on the second day of the Islamic Development Bank’s (IsDB) annual meetings in Azerbaijan’s capital of Baku.
Rustum and the finance ministers of Kuwait, Qatar, Nigeria, and Chad discussed means of boosting bilateral economic ties, exchanging development expertise, and exploring more future co-operation.
He emphasised Egypt’s commitment to sharing its experience in sustainable development, infrastructure, and structural reforms, while highlighting the importance of resilience in the face of global uncertainty.
Talks with the Kuwaiti and Qatari ministeres focused on reinforcing economic co-operation in the Gulf, with both sides stressing the need for joint efforts to counter regional challenges.
The discussion with the Nigerian and Chadian ministers were centered on boosting trade under the African Continental Free Trade Agreement and advancing shared infrastructure projects to support continental integration.
Meanwhile, Rustum and Djibouti’s Minister of Economy and Finance discussed regional trade corridors and logistics, and with World Bank Vice President Ousmane Diagana to review Egypt’s strategic partnership with the Bank.
The discussions also touched on expanding innovative financing and guarantees for infrastructure projects through Egypt’s Local Currency Infrastructure Guarantee Facility, with potential applications in West and Central Africa.
Rustum stresse that current global challenges demand greater reliance on innovative financing mechanisms offered by the Islamic Development Bank to empower member states, particularly least-developed countries, to achieve sustainable development goals.
