IsDB to inject USD3bln in Egypt's developmental projects| MENAFN.COM

Wednesday, 07 December 2022 02:21 GMT

IsDB to inject USD3bln in Egypt's developmental projects


(MENAFN) A new agreement has been signed between the Egyptian minister of investment and international cooperation and the Islamic Development Bank (IsDB) Group on a new strategic partnership, including establishing a new regional office in Egypt.

The IsDB is set to inject USD3 billion between 2018 and 2020, to back a number of developmental projects in Egypt.

Bank's president, Bandar Hajjar, stressed the commitment of the IsDB to support the investment environment in Egypt.

The two sides also agreed to invest in developmental projects in Sinai, in the fields of water desalination, as well as creating a USD500 million find to support small and medium sized projects.

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