Egypt seeks expanded financing cooperation with Korea Eximbank

Egypt is seeking to expand financing cooperation with the Export-Import Bank of Korea (KEXIM) to support investment in priority sectors, including manufacturing, digital transformation, and artificial intelligence, Foreign Minister Badr Abdel-Atty said on Monday.

Badr Abdel-Atty made the remarks during a meeting in Seoul with Seo Jung-hwa, Executive Director and Head of Operations at the Economic Development Cooperation Fund (EDCF) of Korea Eximbank, according to a Foreign Ministry statement.

The minister said Egypt aims to deepen its partnership with the Korean lender and expand its investment portfolio with the bank in support of the country’s Vision 2030 development strategy.

He highlighted opportunities for Korean companies in Egypt, noting the country’s strategic location and infrastructure network, which support its role as a regional manufacturing and export base.

Abdel-Atty said Cairo was particularly interested in strengthening cooperation in industrial development, digital transformation, artificial intelligence, and private-sector growth while benefiting from the bank’s financing and technical expertise.

Seo welcomed Egypt’s economic reform programme and said it had helped improve macroeconomic stability and the investment environment despite regional and global challenges.

Both sides agreed to continue coordination aimed at expanding economic and development cooperation under the broader strategic partnership between Egypt and South Korea.

Egypt has been seeking to expand development financing partnerships and attract foreign investment as it advances economic reforms and infrastructure projects under its Vision 2030 strategy.

Attribution: Amwal Al Ghad English