Egyptian chief of state discusses with IsDB president frameworks of cooperation

CAIRO – 14 February 2023: President Abdel Fatah al-Sisi met Tuesday in Dubai, on the sidelines of the World Government Summit, President of the Islamic Development Bank (IsDB) Mohamed al-Jasser.

 

The press statement indicated that the meeting tackled "the frameworks of existing cooperation between Egypt and the bank, and that are of priority to the developmental process carried out by Egypt on the economic and social levels."

The Egyptian president and Jasser also conferred over the efforts deployed by the government to accomplish economic reform, and that enabled the Egyptian economy to withstand the global economic crisis, continue growing, and enlarge foreign direct investment.

The IsDB held a forum on private sector in Egypt's Sharm El Sheikh last June. On the sidelines, Egyptian Prime Minister Mostafa Madbouli met with the bank's president, underscoring the necessity of adopting a cooperation mechanism among member states on the most pressing issues, on top of which are food and energy.

On his side, Jasser stressed that the bank will intensify its consultations with member states to formulate specific proposals to develop cooperation in these areas.

Egypt’s strategic development partnership with the IsDB exceeds $17 billion, including the implementation of about 367 projects in Egypt, Minister of Planning and Economic Development Hala El-Said stated in June.

El-Said elaborated that 303 projects had been completed by the end of March 2022, with a value exceeding $10 billion, and that there were about 64 projects in-progress, with an estimated value of $7 billion, in various development sectors.