Planning min.: IsDB provided total funding of $12.8B for Egypt

CAIRO - 12 July 2020: Planning and Economic Development Minister Hala el Saeed said that the Islamic Development Bank (IsDB) Group has provided a total funding of $12.8 billion for Egypt in the past period.

In a press statement, Saeed lauded measures taken by the bank to combat the novel coronavirus through providing urgent aid for member states and Muslim communities in non-member states.

She further expressed Egypt's readiness to increase cooperation with the IsDB to support sectors badly affected by the Covid-19 crisis, atop of which is the private sector.

For his part, IsDB chairman Bandar Hajjar said that the bank is currently executing 57 projects in Egypt worth 3.8 billion dollars.

The energy sector secured 80.7 percent of the bank's operations in Egypt at a value of 1.6 billion dollars (19 projects), followed by the urban development, mining, and transport sectors (8.7 percent), he added.