"Narrative Summit" Releases 2025 Recommendations to Cement Egypt's Position as a Global Tourism Destination    Egypt, S.Arabia step up trade ties through coordination council talks    Egypt reviews progress on $200m World Bank-funded waste management hub    Egypt urges Israel to accept Gaza deal amid intensifying fighting    Egypt, ADIB explore strategic partnership in digital healthcare, investment    SCZONE, Tokyo Metropolitan Government sign MoU on green hydrogen cooperation    Egypt welcomes international efforts for peace in Ukraine    Al-Sisi, Macron reaffirm strategic partnership, coordinate on Gaza crisis    Contact Reports Strong 1H-2025 on Financing, Insurance Gains    Egypt, India's BDR Group in talks to establish biologics, cancer drug facility    AUC graduates first cohort of film industry business certificate    Egyptian pound down vs. US dollar at Monday's close – CBE    Egypt's FM, Palestinian PM visit Rafah crossing to review Gaza aid    Egypt prepares unified stance ahead of COP30 in Brazil    Egypt recovers collection of ancient artefacts from Netherlands    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Egypt, Namibia explore closer pharmaceutical cooperation    Fitch Ratings: ASEAN Islamic finance set to surpass $1t by 2026-end    Renowned Egyptian novelist Sonallah Ibrahim dies at 88    Egyptian, Ugandan Presidents open business forum to boost trade    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt, Huawei explore healthcare digital transformation cooperation    Egypt's Sisi, Sudan's Idris discuss strategic ties, stability    Egypt to inaugurate Grand Egyptian Museum on 1 November    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



New Development Bank eyes $5bn in financings by 2025, prioritizes Egypt, Bangladesh
Published in Daily News Egypt on 12 - 06 - 2024

The New Development Bank (NDB) held its inaugural seminar in Egypt, outlining ambitious plans to expand financing and support sustainable development projects in the country. The bank aims to reach $5bn in financings by 2025, with $1bn allocated to new members Egypt and Bangladesh.
During the seminar, Vladimir Kazbekov, NDB Vice President & Chief Operating Officer, announced that the bank's total portfolio currently stands at $45bn across more than 100 projects, with over half of the funds already disbursed. This year, the NDB targets 12 financing agreements worth $4.7bn, focusing on sovereign projects and increasing approvals.
A key priority for the NDB is to increase local currency financings, which currently account for 23% of its portfolio. The bank is exploring a wider basket of currencies and new tools to finance projects in various countries, aiming to better meet the needs of member states.
The NDB's 2022-2026 strategy, detailed by Anil Kishora, Vice President & Chief Risk Officer, and Xiheng Jiang, Director General of the Strategy, Policies and Partnerships Department, aims to mobilize resources for infrastructure and sustainable development. The strategy prioritizes renewable and green energy, transport and infrastructure, digital and financial inclusion, and social infrastructure and climate issues.
By 2026, the NDB aims to be recognized as a leading development bank providing quality financial solutions for infrastructure. This includes mobilizing $30bn in approved financing, co-financing 20% of projects with partner banks, and extending 30% of total financing in local currencies.
The bank also plans to accelerate support for non-sovereign operations, such as public-private partnerships and foreign investment projects. Bin Han, Director General of the Private Sector and Non-Sovereign Guaranteed Transactions Department, highlighted promising opportunities in Egypt in this regard.
Egypt's economic recovery and future challenges were discussed by Atter Hannoura, Director, PPP Central Unit Egypt.He emphasized the importance of increased local currency financings, which could significantly transform the financing landscape.
Other speakers at the seminar included Yury Surkov, Director General of, the Public Sector Department, who elaborated on the NDB's project financing priorities and the Project Preparation Fund. Zhongxia Jin, Director General of, theTreasury and Portfolio Management Department, discussed the bank's strong credit rating and programs focused on local currency financing.
The seminar provided valuable insights into the NDB's innovative financial tools and mechanisms to support Egypt's sustainable development strategies, underscoring the bank's commitment to fostering economic growth and cooperation among member states.


Clic here to read the story from its source.