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President El-Sisi Meets the President of the New Development Bank


Today, President Abdel Fattah El-Sisi met with President of the New Development Bank, NDB, Mrs. Dilma Rousseff, and her accompanying delegation. The meeting was also attended by Minister of International Cooperation, Dr. Rania Al-Mashat, and Minister of Finance, Dr. Mohamed Maait.

The meeting reviewed cooperation between Egypt and the NDB, which is the economic arm of the BRICS group. President El-Sisi expressed Egypt’s pride in hosting the First International Seminar of the NDB, which is currently being held in the New Administrative Capital. The seminar is the first of its kind for the bank’s member states. The President emphasized the importance of the seminar and its role in facilitating transactions among member states in local currencies, introducing mechanisms to support the private sector, and discussing future cooperation opportunities among BRICS members, both founding and new.

Spokesman for the Presidency, Counselor Dr. Ahmed Fahmy, said President El-Sisi stressed Egypt’s vision regarding the importance of South-South partnerships to achieve national development goals. The President expressed Egypt’s interest to follow up on the bank’s future plans, particularly regarding its innovative mechanisms, guarantees, and the technical support it provides to both the public and private sectors. This comes within the bank’s broader role in contributing to reforming the global financial structure to establish an international environment that empowers emerging economies and developing countries.

The President of the New Development Bank expressed her appreciation of Egypt’s accession to the bank and its hosting of the seminar. Mrs. Rousseff stressed the bank’s keenness on working jointly with Egypt to play an active role in supporting member states as well as developing countries in general. This cooperation shall contribute to strengthening efforts to improve the global economic system to become more just and supportive of development endeavors. She also lauded Egypt’s successful developmental experience, referencing to the New Administrative Capital and the newly established cities. The NDB President emphasized her significant interest in Egypt’s efforts to develop unsafe areas, and provide safe, planned, and civilized alternative areas, resulting in tangible positive development in the lives and living standards of millions of the neediest segments.

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