Egypt’s cooperation portfolio with the Islamic Development Bank Group (IsDB) has growth to be worth $17 billion, explained Minister of Planning and Economic Development Hala El-Said earlier today.

On the sidelines of the annual IsDB meetings, El-Said noted that the portfolio includes the implementation of around 367 projects in the country so far valued at more than $10 billion, with 303 projects completed according to data at the end of March 2022.

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El-Said is also the Governor of Egypt at the Islamic Development Bank Group and Chairman of the Board of Governors of the Islamic Development Bank.

The minister emphasized the importance of investing in Egypt’s infrastructure in the years between 2014 – 2019, highlighting that Egypt invested EGP 16 trillion to support these areas.

A new platform was launched during today’s meeting, the Private Sector Forum (PSF), to help establish business relations and partnerships with other leading representatives and stakeholders from the business community in order to share their related experience, success stories and best practices, while jointly exploring investment and trade opportunities offered by member countries.

“The PSF will witness the signing of 18 agreements with Egypt, as well as several other agreements with Arab Countries. These include supporting Egyptian exports to Africa and boosting private sector participation,” El-Said added.

PSF will also highlight the IsDB Group activities, services and initiatives in member countries including Egypt (investment, trade, and insurance). 

Currently, the Egypt-IsDB portfolio includes 64 projects which are under-way at an estimated value of $7 billion in various sectors, including industry and mining, energy, finance, agriculture, education, health, water and wastewater, real estate, and information technology, communications, transportation, and other miscellaneous fields.