Nasr signs MoU with ICD to finance infrastructure projects

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Minister of Investment and International Cooperation Sahar Nasr signed a memorandum of understanding (MoU) with Khaled Aboudi, CEO of the Islamic Corporation for the Development of the Private Sector (ICD), to finance infrastructure projects during the 42nd Islamic Development Bank Group (IDB) board of governors meeting in Saudi Arabia.

The agreement comes in the framework of the government’s efforts to encourage investment and support the private sector in Egypt, said Nasr, adding that her ministry seeks to strengthen the public-private partnership in financing mega infrastructure projects.

This financing program aims at easing the pressures on the state budget and accelerating the implementation of infrastructure projects, such as schools, hospitals, health care centres, housing projects, and sports facilities, the minister stated.

Moreover, Nasr signed another financing agreement for $10m with Bander Hajar, head of the IDB, to finance a health care project to combat bird flu in Egypt. It comes in the framework of the government’s efforts to support the health sector and improve the quality of health services.

Nasr asserted that this project aims to support the Egyptian government’s efforts to control the spread of the bird flu in Egypt, pointing out that controlling the virus in poultry is the main way to reduce human infection.

The minister also witnessed the signing of a MoU between the ICD and COMESA’s Regional Investment Agency to promote investment in the region.

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