Finance Minister Mohamed Maait held a meeting with Vladimir Kazbekov, Deputy President of the BRICS New Development Bank (NDB), and his accompanying delegation. They discussed projects related to clean energy, transport, social and environmental protection.
During the meeting, Maait expressed his intention to issue bonds in local currencies in NDB member countries. He emphasised that Egypt seeks a strategic and sustainable partnership with the BRICS bank. This is reported by Daily News Egypt, a partner of TV BRICS.
Maait highlighted promising opportunities for cooperation in clean energy, transport, social protection, environmental projects, information infrastructure, water and sanitation. He emphasised the NDB’s extensive financial capabilities and international best practices that will be able to meet Egypt’s development needs.
The minister admitted that the Egyptian government is ready to engage in continuous and sustained discussion on economic development strategies. This is in line with the NDB’s plans to expand its operations in Egypt. It will facilitate the exploration of more promising investment opportunities and provide affordable development finance to the private sector.
The private sector is a driver of sustainable economic recovery and growth. Thus, different support measures, such as tax incentives, customs benefits and investment promotion, are especially important.
African Times published this article in partnership with International Media Network TV BRICS.