HoR Ratify Document of Egypt's Accession to Development Bank of "BRICS" Bloc

The House of Representatives (HoR), headed by Counselor Dr. Hanafi Jabali, ratified the President of the Arab Republic of Egypt’s Resolution No. 628 of 2022 regarding accession to the development bank of the BRICS bloc.

There are many aspects of Egypt benefits from its accession to this bank, especially the areas that fall within the various activities of the bank which enhances regional cooperation and integration by investing in the field of infrastructure that includes energy, transport, water, and communications, in addition to that the BRICS’s bank operations encompass health and social infrastructure sectors.

The BRICS group comprises the major emerging economies, namely Brazil, Russia, India, China, and South Africa. It is headquartered in Shanghai, China.