Minister Al Mashat participates in 8th NDB annual meeting in China

Minister of International Cooperation, Rania Al Mashat, participated in the annual meetings of the New Development Bank (NDB) 8th session, held at its headquarters in Shanghai, China on May 30th and 31st.

The MOIC minister is Egypt’s alternate governor for the NDB, with Finance Minister Mohamed Maait as the main governor.

The ministry is committed to strengthening relations with all international institutions, in light of the role assigned to it to develop and strengthen economic cooperation relations between Egypt and international and regional countries and organizations, and manage the economic relations of the country with cooperation organizations, economic institutions, international financial institutions and specialized agencies of the United Nations, she said.

The NDB, formerly referred to as the BRICS Development Bank, previously announced Egypt's membership, joining a list of major emerging countries, namely Brazil, India, China, Russia and South Africa.

Since its establishment, the NDB has approved financing in more than 90 projects totaling $32 billion in areas such as transportation, water supply, clean energy, digital and social infrastructure, and civil construction.