Sisi highlights South-South partnerships to New Development Bank president

CAIRO - 12 June 2014: President Abdel Fattah El-Sisi explained on Wednesday to Dilma Rousseff, President of the New Development Bank (NDB), Egypt’s vision on South-South partnerships in achieving national development. 

Rousseff and her accompanying delegation met Sisi in the presence of Dr. Rania Al-Mashat, Minister of International Cooperation, and Dr. Mohamed Maait, Minister of Finance.

The meeting in Cairo reviewed the path of relations between Egypt and NDB, which is the economic arm of the BRICS group. 

Sisi expressed Egypt’s pride in hosting NDB’s first international forum, being held in the New Administrative Capital. 

The forum is the first of its kind for NDB’s member states, which would help advance efforts to facilitate transactions between member states in local currencies.

This would introduce mechanisms to support the private sector, and discuss future cooperation opportunities between the founding and new members of the BRICS group.

The President said Egypt will follow up with NDB on innovative mechanisms and guarantees it provides, and the technical support it provides to governments and private sectors, as part of its broader role in contributing to reforming the global financial structure, and establishing a supportive international environment for emerging economies and developing countries.