Islamic Development Bank invests $3.7 bln in Egypt: official

The volume of Islamic Development Bank (IDB)’s investments in Egypt currently amounts to US$3.7 billion, said director of asset management and advisory activities of the Islamic Corporation for the Development of the Private Sector (ICD).

ICD is part of the Islamic Development Bank Group.

Nazih Al-Nasser, director of asset management and advisory activities of ICD, made his remarks in Cairo on Tuesday during a conference organised by the Egyptian Banking Institute, designated to focus on the role of the small and medium-sized enterprises (SMEs).

The present membership of the IDB consists of 56 countries.