Egypt’s Minister of International Cooperation Rania El-Mashaat is participating in the two-day annual meeting of the New Development Bank (NDB), which kicked off in Shanghai, China on Tuesday.
The 8th NDB Annual Meeting is themed ‘Shaping a New Era for Global Development’ is intended to boost infrastructure development projects.
El-Mashaat said her ministry is committed to strengthening development cooperation with multilateral and bilateral development partners and promote a national development vision consistent with the UN sustainable development goals (SDGs).
Egypt’s membership of the NDB enhances efforts by the Egyptian government to promote development and integrate efforts with emerging economies and developing countries to mobilize the necessary resources to finance infrastructure projects and sustainable development, the minister said.
NDB, formerly referred to as the BRICS Development Bank, headquartered in Shanghai, China, announced Egypt’s addition to the list of major emerging countries — namely Brazil, India, China, Russia, and South Africa.
The bank supports sustainable development and strengthens regional cooperation and integration by investing mainly in infrastructure, energy, transport, health, water and communications.
Source: The Egyptian Gazette
