Finance Minister discusses cooperation with NDB in clean energy, transportation, and environmental protection projects
Finance Minister Mohamed Maait met with Vladimir Kazbekov, Deputy President of the New Development Bank (NDB), and his accompanying delegation, to discuss potential areas of cooperation in projects related to clean energy, transportation, and social and environmental protection.
Maait expressed the aim to issue bonds in local currencies within the member countries of the bank. He emphasized the pursuit of a strategic and sustainable partnership with the NDB to attract increased investment flows supporting the state’s efforts in establishing more sustainable and inclusive developmental foundations. This includes advancing the standard of living and public services.
During the meeting, Minister Maait highlighted promising collaboration opportunities in clean energy, transportation, social protection, environmental projects, information infrastructure, water, and sanitation. He acknowledged the vast financial capabilities and advanced international experience of the NDB, which contribute to the country’s developmental needs.
Maait disclosed the Egyptian government’s intention to issue bonds in local currencies within the markets of the bank’s member countries. Additionally, there are plans to issue green, blue, social, and sustainable bonds to align with the aspirations of Egypt Vision 2030, thus adding new categories of socially impactful projects to Egypt’s sustainable portfolio.
The minister emphasized the Egyptian government’s eagerness to engage in ongoing and sustainable discussions on strategies to enhance economic development. This aligns with the NDB’s plans to expand its activities in Egypt in the coming period, facilitating the exploration of more promising investment opportunities and providing accessible development financing for the private sector. The private sector is considered a driver of sustainable economic recovery and growth, especially given the supportive measures such as tax incentives, customs benefits, and investment facilitation.
Maait stated that Egypt is committed to enhancing cooperation with various international multilateral institutions to achieve sustainable development goals. This commitment becomes more crucial amid geopolitical tensions and unprecedented challenges.