IDB funds 17 projects worth $5.4B in Egypt
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CAIRO: The Islamic Development Bank (IDB) Group is funding a total of 17 projects in different sectors in Egypt, announced the Minister of International Cooperation Sahar Nasr.

The loan portfolio of the projects is worth $5.4 billion, including $3 billion to fund importing of petroleum materials as part of a deal with the Egyptian General Authority for Petroleum, reported Youm7 Saturday.

The minister’s statement was made during a Friday meeting between her and the head of the IDB Ahmed Mohamed Ali. The meeting tackled fields of cooperation between the Egyptian government and the IDB.

Nasr said that she will be working very hard to overcome any obstacles intersecting the implementation of the projects, for which she suggested holding a periodical workshop to provide technical assistance and follow up on the projects.

Furthermore, Nasr expressed her hope that the IDB pays more attention to transfer knowledge and technology from developed and major industrial countries in different fields of development in Egypt.

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