Islamic Development Bank to open Representative Office in Cairo Soon

The Saudi Arabia based lender, Islamic Development Bank (IDB) will inaugurate its representative office in Cairo soon, Egyptian minister of international cooperation Naglaa Al-Ahwany said Thursday.

According to Al-Ahwany, it is expected to prepare soon an agreement with IDB so as to launch a representative office in Cairo in coordination with the Egyptian Ministry of Foreign Affairs.

During Egypt’s economic summit in Sharm El-Sheikh last March, Islamic Development Bank signed six agreements totalling US$3.9 billion with the Egyptian government to finance infrastructure projects.