International cooperation minister discusses boosting partnership with the UK's DFI

MENA , Monday 20 Jan 2020

International Cooperation Minister Rania Al-Mashat
International Cooperation Minister Rania Al-Mashat

Egypt's Minister of International Cooperation Rania Al-Mashat said on Monday she wants to bolster Egypt's partnership with the UK's Development Finance Institution (DFI), CDC Group.

Al-Mashat made her remarks during a meeting with the CEO of CDC Group Nick O'Donohoe and the group's Managing Director for Africa Tenbite Ermiason on the sidelines of the UK-Africa Investment Summit 2020 in London.

Highlighting the DFI's role in funding Aswan's Benban solar power project and other educational projects in Egypt, Al-Mashat said she is keen to further mutual cooperation to achieve the ministry's vision, which seeks to boost multilateral partnerships with international development partners and economic policymakers.

The minister reviewed with the two officials means of promoting the group's investments in various sectors, including renewable energy, healthcare and infrastructure.

She noted that the group has financed up to 20 Egyptian companies since 2013, creating over 9,000 direct job opportunities.

Meanwhile, the group leaders applauded the economic and fiscal reforms in Egypt, voicing their intention to expand the institution's activities in Egypt in parallel with opening the group's office in Cairo by mid-2020.

Egypt's Ambassador in London Tarek Adel and Ambassador of the UK in Cairo Geoffrey Adams attended the meeting along with Director of the Middle East and North Africa at the British Department for International Development Mark Bryson Richardson.


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