Minister of Finance Mohamed Maait meets with the New Development Bank s Vice President Vladimir Kazbekov and his delegation. Cabinet.
NDB member states include Bangladesh, Brazil, China, Egypt, India, Russia, South Africa, the United Arab Emirates, and Uruguay.
Kazbekov is visiting Egypt for the first time since the country became a member of the BRICS-founded bank in March 2023 and the BRICS organization itself in January 2024.
During the visit, Kazbekov and his delegation met with Maait and Minister of International Cooperation Rania Al-Mashat to discuss enhancing development efforts.
Maait said that there are wide horizons for cooperation between Egypt and the bank in the fields of renewable energy, transport, social protection, environment, information infrastructure, water, and sanitation.
For her part, Al-Mashat stressed the Egyptian government’s keenness to strengthen its partnership with the NDB in light of China’s Belt and Road Initiative.
The initiative aims to foster international cooperation, enhance investments and partnerships between the government and private sectors, and also supports the implementation of infrastructure projects and stimulates South-South cooperation.
The BRICS countries (Brazil, Russia, India, China and South Africa) established the NDB in 2014.
BRICS countries retain majority control of the NDB, but membership is open to non-BRICS countries.
NDB member states include Bangladesh, Brazil, China, Egypt, India, Russia, South Africa, the United Arab Emirates, and Uruguay.
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