On the Sideline of Her Participation in the Asian Financial Forum in Hong Kong: The Minister of Planning and Economic Development Discusses The Cooperation Opportunities with the Chairman of the Islamic Development Bank Group

The Minister of Planning and Economic Development and Egypt’s Governor at the Ismlqmic Development Bank Dr. Hala El-Said met the Chairman of the Islamic Development Bank Group (IsDB) Dr. Muhammad Bin Suliman Al Jasser, on the sidelines of her participation in the 17th edition of the Asian Financial Forum held in Hong Kong from 24 to 25 January, and themed “Multilateral Cooperation for a Shared Tomorrow”. Wael Zeid, Assistant Minister of Planning for Economic Affairs and Investment, Ayman Suleiman, Executive Director of Egypt Sovereign Fund, and Noha Khalil, Head of the Investor Relations Sector of the Fund attended the meeting.

At the beginning of the meeting, Dr. Hala El-Said praised the ongoing cooperation and coordination between Egypt and the Bank Group Cairo on various files like the Electric Bullet Train Project Agreements, meant to be signed next February, which is one of the most important projects with economic, social and environmental returns as an added value to the transport system by facilitating the movement of people and for trade along with the enhancement of the state strategy to establish a nationwide advanced sustainable transport system, as one of the leading nations in Africa and the Middle East.

El-Said also praised the strategic cooperation relationship between Egypt and the Islamic Development Bank Group, where the Bank Group is a top strategic development partner for Egypt, with a cooperation portfolio worth approximately $19 billion. The cooperation aspects of the two sides cover various areas of development, most notably the energy, infrastructure, industry, finance, agriculture, health, and education sectors.

El-Said stressed the importance of the strategic partnership between the Arab Republic of Egypt and the member institutions of the Islamic Development Bank Group while indicating the diverse services provided by the Bank's group, including the Islamic International Trade Finance Corporation. She also cited the forthcoming signing of the Foundation's annual labor program, for the year 2024, in February to provide funding solutions for $1.5 billion. Furthermore, she pointed out the success of signing the second phase of the Women in International Trade in Egypt which is funded under the second round of the program run by the foundation (Avitias 2).

During the meeting, the Minister of Planning and Economic Development also discussed the existing and proposed areas of cooperation with the Islamic Cooperation for the Development of the Private Sector Development, as she is looking forward to strengthening cooperation with the Egyptian Sovereign Fund, the State's investment arm, in new and renewed energy projects that the cooperation has expressed interest in, in line with the themes of the National Structural Reform Programme, the State Ownership Document and other national plans and strategies aimed at encouraging Egypt's private sector.