1st seminar of New Development Bank in Egypt launches

The inaugural seminar of the New Development Bank (NDB) in Egypt commenced today, with the esteemed presence of H.E. Dr. Mostafa Madbouly, Prime Minister of Egypt, H.E. Dr. Rania Al-Mashat, Minister of International Cooperation, Ms. Dilma Rousseff, President of the New Development Bank, Dr. Mohamed Maait, Minister of Finance, Lieutenant General Kamel el-Wazir, Minister of Transport, Dr. Hala El-Saeed, Minister of Planning and Economic Development, Lieutenant General Mohamed Abbas Helmy, Minister of Civil Aviation, Dr. Mohamed Farid, Chairman of the Financial Regulatory Authority, along with distinguished representatives from international institutions, development partners, and national entities.

Organized by the Ministry of International Cooperation in collaboration with the New Development Bank, the seminar aims to introduce the NDB's operations, enhance avenues of cooperation between the government and the private sector, explore future collaboration opportunities among founding and new BRICS members, and maximize the utilization of the NDB's available cooperation potentials. This comes in light of Egypt's pivotal role in the region, serving as a global connectivity hub and playing an increasingly prominent role in global value chains and trade.

The significance of the seminar comes after Egypt joined the New Development Bank in March 2023, and was officially approved for membership in the BRICS group earlier this year. The seminar discusses various important topics and themes, including Egypt's development plans and its role in enhancing global development and promoting cooperation among southern countries. The NDB also presents various financial tools and solutions to support global development, among other topics.