A new IDB office in Cairo

The Minister of Investment and International Cooperation Dr. Sahar Nasr met with President of the Islamic Development Bank (IDB) Dr. Bandar Hajjar, on the sidelines of the IDB’s 42nd Annual Meeting held in Jeddah. Both sides discussed IDB’s support of MIIC’s efforts in improving Egypt’s investment climate and business environment, which would contribute to attracting further local and foreign investments and maximising partnership opportunities with the private sector. They also tackled the procedures of opening a regional office for IDB in Cairo The Minister commended the volume of cooperation portfolio with IDB amounting to USD 2 billion. Within this framework, Dr. Hajjar indicated that a new cooperation strategy with the Egyptian government with an overall financing of USD 3 billion for 2017-2019 was being developed.