Minister of Planning, Economic Development and International Cooperation and Egypt's Governor at the New Development Bank Arrives in South Africa for the 9th Annual Meeting of the Bank’s Board of Governors

H.E. Dr. Rania A.  Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, and Egypt’s Governor at the New Development Bank (NDB), has arrived in South Africa to participate in the 9th annual meeting of the NDB Board of Governors, held under the theme "Investing in a Sustainable Future" from August 28 to 31 in Cape Town.

 

H.E. Dr. Al-Mashat’s agenda includes participating in a session of the 9th annual meeting of the NDB Board of Governors, which will feature the signing of a cooperation agreement between the NDB and South Africa. Additionally, Minister Al-Mashat will take part in the main seminar for the bank’s governors on financing sustainable development in developing countries, as well as another session titled "Financial Institutions at the Forefront of Infrastructure Investment."

 

The Minister’s agenda also includes a series of bilateral meetings to discuss ways to enhance cooperation with international development partners on the sidelines of the annual meeting.

 

The annual meetings of the Bank aim to discuss the NDB’s financing of infrastructure and sustainable projects in emerging markets and developing countries.

 

Leaders, policymakers, and businesspeople are expected to meet to discuss how to promote investment for a sustainable future. The program will feature presentations on advanced financial systems for sustainable development and sustainable investment prospects, through initiatives addressing urgent social and environmental issues and best practices in developing new drivers of sustainable growth.

 

It is noteworthy that Egypt hosted the first international forum of the New Development Bank (NDB) in June, under the patronage of President Abdel Fattah El-Sisi, President of the Arab Republic of Egypt. The forum was organized by the Ministry of Planning, Economic Development, and International Cooperation following Egypt's membership in the NDB and official approval for its accession to the BRICS group, the forum aimed to introduce the Bank’s operations, enhance cooperation with the government and the private sector, discuss future collaboration opportunities among founding and new BRICS members, and maximize the benefits of available cooperation opportunities with the Bank, given Egypt's pivotal role in the region as a hub connecting the continents and its growing role in international value chains and trade.