ACUD, EBRD explore cooperation opportunities in NAC

Daily News Egypt
2 Min Read

A delegation from the European Bank for Reconstruction and Development (EBRD) led by Khalid Hamza, Head and Director of EBRD in Egypt, visited the Administrative Capital for Urban Development (ACUD) and met with its Chairperson and Managing Director Khaled Mahmoud Abbas. The meeting aimed to discuss potential cooperation between the two parties in the fields of infrastructure and urban development in the New Administrative Capital (NAC).

Abbas expressed his confidence in the ACUD’s ability to collaborate with the EBRD, saying that this visit was a positive step towards establishing effective and distinguished partnerships in developing infrastructure and enhancing urban development in the capital.

He also highlighted the importance of understanding the bank’s investment plans in Egypt and exploring ways to work together in vital sectors.

Abbas added that the EBRD has extensive experience in development, and that its cooperation would play a crucial role in supporting projects in the NAC.

Khalid Hamza, Head and Director of EBRD in Egypt, stated, “The NAC project is one of the most important and largest national projects in Egypt, and we are committed to supporting projects that adhere to sustainable development standards.”

He added that this visit also aimed to assess the available capabilities in the NAC for hosting the annual meeting of the Bank’s Board of Governors and its senior leaders. This meeting is one of the major events held by the bank every year, with the participation of delegations from many member countries and senior government officials. The hosting country is determined based on the availability and quality of facilities and services, such as hotels, conference halls, and various infrastructures.

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