The IsDB’s investment portfolio covers 395 projects across various sectors, including electricity, infrastructure, and transport
The Islamic Development Bank’s (IsDB) investment portfolio in Egypt has reached $22 billion, Minister of Planning and Economic Development Hala El Said told Asharq Business on the sidelines of the 2024 Annual Meetings of IsDB in Riyadh.
The IsDB’s investment portfolio covers 395 projects across various sectors, including electricity, infrastructure, and transport, El Said added.
The bank’s affiliated institutions also finance related projects to these sectors, which contribute to increasing the Egyptian exports, she added, pointing out that the country’s export rose by 20% to $52 billion.
El Said stressed that cooperation with the international community is extremely important, especially for developing countries. These countries need more foreign direct investment and support for projects, studies, and education. It has hugely talented young people who need support. Although developing countries represent 85% of the world's population and produce 45% of global goods, partnering with them will be beneficial to everyone.
“We are the first country to issue sustainable bonds in the Chinese market, and we are working to develop financial laws to support environmental investments and empower women,” the minister said.
She added that the government’s main goal is to attract the private sector to invest in vital projects, while providing the necessary financial support, and that they must communicate with the private sector through public dialogue.
