On WEF sidelines in Davos: Egypt’s Minister of Planning, BlackRock Vice Chairman meet to discuss joint co-operation

H.E. Dr. Hala El-Said, Minister of Planning and Economic Development met with Philipp Hildebrand, Vice Chairman of BlackRock, on the sidelines of her participation in the activities of the 53rd annual meeting of the World Economic Forum (WEF) in Davos.
During the meeting, El-Said who is acting also as Chairperson of the Board of Directors of The Sovereign Fund of Egypt (TSFE) reviewed the fund's promotional tour details.
El-Said indicated that the fund is one of the mechanisms to strengthen partnerships with the local and foreign private sector, as it is the investment arm of the Egyptian state.
El-Said referred to the role of TSFE in the field of climate change, which supports the state's drive to shift to green projects.
El-Said pointed out that the fund has established hydrogen and green ammonia production projects in partnership with some specialized international companies, and water desalination projects.
The Norwegian Investment Fund and the Norwegian company Skatek have also signed an agreement for cooperation in the development of renewable energy projects, green hydrogen, and green infrastructure in a number of countries.
This is in addition to the signing of the Fund, during Egypt's hosting of COP27. This was an agreement with a private sector consortium to establish the first carbon fund.
Dr. Hala El-Said also discussed with the Vice President of BlackRock, ways of cooperation of the Sovereign Fund of Egypt with the company, especially in the field of green transformation.
It is noteworthy that BlackRock is the world's largest asset management and investment institution, with assets under management of about $10 trillion.
BlackRock is a US multinational corporation headquartered in New York City.