Egypt’s Investment Minister likely to partake in UN Economic, Social Council

Egypt’s Minister of Investment and International Cooperation Sahar Nasr is expected to travel on Sunday to the US to participate in the United Nations (UN) Economic and Social Council and meet with officials from the World Bank, statement from the ministry read.

The minister will meet with officials including Farid Belhaj, the deputy vice president of the World Bank Group for the Middle East and North Africa.

The two officials are expected to discuss cooperation between Egypt and the bank in developing the Sinai Peninsula, where the bank is providing $1 billion for development.

The bank is also providing $1 billion over two phases for the second phase of Egypt’s social housing project.

Nasr is also expected to meet with a number of major US companies to discuss increasing investments in Egypt and promoting Egypt’s investment map.

The minister will start her meetings by participating in the opening ministerial meeting of the high-level political forum.

The forum will be attended by Secretary-General of the United Nations Antonio Guterres.

Nasr will also meet with a number of officials from the UN Development Program to discuss further cooperation between Egypt and the programme during the next phase.

On Monday, Nasr is expected to give a statement to the UN Group of 77 and China, which is currently chaired by Egypt.

The Group of 77 at the UN is a coalition of developing nations designed to promote its members’ collective economic interests and to better enable joint negotiations within the international organisation.

The Group of 77 and China currently includes 134 countries, representing about two thirds of UN member states; making it the largest coalition of developing states within the UN.

In the presence of representatives of some 110 UN member states, the Egyptian minister will speak in a session on “Strengthening the Global Partnership for Sustainable Development.”

According to the statement, the minister is also expected to discuss “achieving sustainable development goals through investment in human beings” and showcase Egypt’s achievements in investing in people and infrastructure.

Source: Ahram Online