Egypt a regional hub in Middle East, Africa: President of BRICS’ dev’t bank

Doaa A.Moneim , Monday 10 Jun 2024

Egypt is a regional hub for the Middle East and Africa, given its unique location and dry ports, said Dilma Rousseff, the president of the BRICS’ financial arm, the New Develoment Bank (NDB).

Dilma Rousseff
President of the BRIC s financial arm, the New Develoment Bank (NDB), Dilma Rousseff with Egypt s Minister of International Cooperation, Rania Al-Mashat during their meeting on Monday 10 June, 2024.


Rousseff made her statements during a meeting on Monday with Egypt’s Minister of International Cooperation Rania Al-Mashat on the eve of the kick-off of the NDB’s first international seminar in Egypt’s New Administrative Capital.

Rousseff also stressed the importance of the trend of emerging countries towards increasing their investments in the fields of technology and innovation to keep pace with global developments and strengthen efforts to localize industry and contribute to the development of value chains.

During the meeting, Rousseff expressed gratitude to the Egyptian state for the warm reception, affirming the importance of relations with Egypt and the great investment opportunities available in light of the presence of the Suez Canal Economic Zone, the massive road network and infrastructure, and the available opportunities for investment in education, technology, and health sectors.

The two-day NDB seminar kicks off on Tuesday under the theme “Navigating New Horizons.” It aims to explore the investment and collaboration opportunities between the member countries of the BRICS and those are outside the bloc.

Egypt has been a member of the bank since March 2023 and a member of the BRICS since January 2024.

The NDB enhances integration within the multilateral development bank system and provides more financing opportunities for developing and emerging economies. It also focuses on promoting financing for infrastructure projects and sustainable development in BRICS countries and other emerging and developing economies.

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