The Islamic Development Bank is set to pump $3bn in the period between 2018 and 2020 to support a number of developmental projects in Egypt, Minister of Investment and International Cooperation Sahar Nasr revealed.
Nasr has agreed with the bank on a new strategic partnership, which will include establishing a new regional office in Egypt.
During her meeting with the bank’s president, Bandar Hajjar, the minister also called upon the bank to support innovative projects and young entrepreneurs.
Meanwhile, Hajjar stressed the bank’s commitment to supporting the investment environment in Egypt.
The two sides also agreed to invest in developmental projects in Sinai and in the field of water desalination, as well as creating a $500m fund to support small and medium-sized projects.