Investment min leaves for New York to take part in UN ECOSOC Forum

CAIRO - 15 July 2018: Investment and International Cooperation Minister Sahar Nasr left here on Sunday for New York to take part in the High-level Political Forum organized under the auspices of the UN Economic and Social Council (ECOSOC) in New York.

The minister is also scheduled to visit Washington for talks with a number of World Bank officials and major American companies to discuss means of increasing US investments in Egypt and promote for Egyptian investment potentials.

In New York, Nasr will participate in the inaugural session of the High-Level Political Forum. On Monday, she will deliver the statement of the Group of 77 and China as Egypt is the current president of the group which comprises 134 representing around two-third of the UN member states.

Nasr will also attend the final session of ECOSOC forum that will be attended by UN Secretary-General António Guterres. She will take part as well in a high-level dialogue session on policies with international financial foundations.

The Egyptian minister will also hold a series of meetings with a number of officials at the UN Development Program to discuss means of boosting cooperation between Egypt and the international body in the coming phase.

In Washington, she will confer with a number of World Bank officials including World Bank Group Vice President for Middle East and North Africa Ferid Belhaj for talks on bolstering joint cooperation in the coming period, supporting a number of development projects in Egypt, continuing talks on Sinai development plan at a value of dlrs one billion, the second phase of social housing which is expected to receive an additional funding from the bank worth dlrs 500 million (the first phase of the project was funded by dlrs 500 million).

The UN Charter established ECOSOC in 1945 as one of the six main organs of the United Nations.The Economic and Social Council is at the heart of the United Nations system to advance the three dimensions of sustainable development – economic, social and environmental. It is the central platform for fostering debate and innovative thinking, forging consensus on ways forward, and coordinating efforts to achieve internationally agreed goals. It is also responsible for the follow-up to major UN conferences and summits.