Egypt’s Minister of International Cooperation meets with President of New Development Bank
Egypt’s Minister of International Cooperation, Rania Al-Mashat, is making waves in the international development community with her recent meeting with Dilma Rousseff, President of the New Development Bank (NDB) and former President of Brazil. The meeting, held at the Ministry’s headquarters in the New Administrative Capital, focused on potential cooperation and investment opportunities between Egypt and the NDB.
Rousseff highlighted Egypt’s strategic importance as a regional hub, pointing to investment opportunities in the Suez Canal Economic Zone, infrastructure, education, technology, and health sectors. She emphasized the need for emerging economies to invest in technology and innovation to stay competitive in the global market.
Al-Mashat, in turn, welcomed Rousseff’s visit as a sign of Egypt’s commitment to strengthening ties with development partners and promoting innovative financing mechanisms. She noted the strong interest from the Egyptian business community, think tanks, and other stakeholders in the NDB’s inaugural seminar, underscoring the bank’s role in supporting development in developing countries and emerging economies.
During the meeting, Al-Mashat presented a report detailing Egypt’s partnerships with development partners from 2020 to 2023, showcasing projects implemented and efforts to promote climate action through programs like the “NWFE” program. Key initiatives such as the “Takaful & Karama” social protection program and the social housing program were also highlighted.
The NDB, established by the BRICS nations, aims to mobilize resources for infrastructure and sustainable development projects in emerging economies. Egypt’s recent membership in both the NDB and the BRICS group signals a new chapter in the country’s development trajectory.
Overall, the meeting between Al-Mashat and Rousseff sets the stage for increased collaboration and investment in Egypt’s development priorities. With a focus on innovation, sustainability, and inclusive growth, the partnership between Egypt and the NDB holds great promise for the country’s future. Stay tuned for more updates on this exciting partnership and its impact on Egypt’s development landscape.
