Nasr discusses $3bn cooperation strategy developments with AFDB 

Mohamed Samir
2 Min Read

Minister of Investment and International Cooperation Sahar Nasr held a meeting with Leila Mokkadem, Resident Representative of the African Development Bank (AFDB) in Cairo, to discuss the latest developments of the cooperation strategy between Egypt and the AFDB.

The two sides discussed the latest developments in the $3bn strategy of cooperation between Egypt and the AFDB in the period from 2015 to 2019, which includes funding to support Egypt’s economic and social programmes with $1.5bn, in addition to the ongoing collaboration portfolio with a value of $1.5bn, to support infrastructure development projects, electricity, and small and medium-sized enterprises to create employment opportunities for young people.

The two sides discussed the $150m funding proposed by the AFDB for the Sewage Treatment Plant project in Abu Rawash in order to raise the standard of living of the citizens, as well as the final procedures of the signing of the $500m third tranche of the $1.5bn loan, which Egypt has already received the first 2 tranches worth $1bn.

Nasr stressed the need to expedite the implementation of various ongoing development projects in collaboration with the AFDB. Adding that the authorities’ top priority is to improve the investment environment, provide a better standard of living for citizens, and establish projects to provide job opportunities.

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Mohamed Samir Khedr is an economic and political journalist, analyst, and editor specializing in geopolitical conflicts in the Middle East, Africa, and the Eastern Mediterranean. For the past decade, he has covered Egypt's and the MENA region's financial, business, and geopolitical updates. Currently, he is the Executive Editor of the Daily News Egypt, where he leads a team of journalists in producing high-quality, in-depth reporting and analysis on the region's most pressing issues. His work has been featured in leading international publications. Samir is a highly respected expert on the Middle East and Africa, and his insights are regularly sought by policymakers, academics, and business leaders. He is a passionate advocate for independent journalism and a strong believer in the power of storytelling to inform and inspire. Twitter: LinkedIn:
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