IsDB’s investment portfolio in Egypt hits $22B

Updated 4/29/2024 7:56:00 AM
IsDB’s investment portfolio in Egypt hits $22B

Arab Finance: The Islamic Development Bank’s (IsDB) investment portfolio in Egypt has reached $22 billion, Minister of Planning and Economic Development Hala Elsaid told Asharq Business on the sidelines of the 2024 Annual Meetings of IsDB in Riyadh.

The IsDB’s investment portfolio covers 395 projects across various sectors, including electricity, infrastructure, and transport, the minister said.

The bank’s affiliated institutions also finance some related projects to these sectors, which contribute to boosting the Egyptian exports, she added, pointing out that the country’s export rose by 20% to $52 billion.

Furthermore, Elsaid mentioned that the country seeks to launch its first industrial sub-fund as part of its future plans.

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