Islamic Development Bank To Invest $3 Billion USD in Egypt During 2018-2020

CAIRO

The Islamic Development Bank is set to pump $3bn in the period between 2018 and 2020 to support a number of developmental projects in Egypt, Minister of Investment and International Cooperation Sahar Nasr revealed. Nasr has agreed with the bank on a new strategic partnership, which will include establishing a new regional office in Egypt. The two sides also agreed to invest in developmental projects in Sinai and in the field of water desalination, as well as creating a $500m fund to support small and medium-sized projects.

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