The Egyptian government said that it is fully committed to its support of the New Development Bank (NDB) to provide financial aid to infrastructure and energy development projects in Africa.
Dr Rania Al-Mashat, the governor of the NDB for Egypt and Minister of International Cooperation, made this statement at the 9th Annual Meeting of the NDB, which is being held in Cape Town.
The Egyptian government said that it is ready to work with BRICS nations and see the countries as major partners to further develop Africa.
“This year is particularly significant for Egypt. This membership represents not only a recognition of our growing economic potential but also an alignment with the values and objectives shared by all BRICS nations — values rooted in fostering inclusive growth and enhancing co-operation among emerging markets and developing countries,” Al-Mashat said.
Al-Mashat also noted that sustainable development had become ever more crucial in these challenging times.
“The theme of this year’s meeting, ‘Investing in a Sustainable Future’, resonates deeply with the objectives we all strive to achieve, particularly in a world that is grappling with unprecedented challenges ranging from the lingering effects of the Covid-19 pandemic, climate change and geopolitical tensions affecting peace and security, particularly in the Middle East,” she said.
The green economy is a major issue for Egypt and advancing its green energy initiatives in Africa will be prioritised, according to Al-Mashat.
Moreover, Al-Mashat said Egypt was also pushing for a better climate agenda in Africa and said it wants to mobilise climate finance and private investment to support Africa’s green transition.
“We look forward to NDB's support in this domain, whether through direct financing or by providing technical assistance,” Al-Mashat said.
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