Egypt’s Prime Minister Mostafa Madbouly and President of the New Development Bank (NDB), Dilma Rousseff have discussed Egypt’s development experience in recent years. Both leaders spoke Tuesday on the sidelines of the NDB’s first international forum held in Egypt’s New Administrative Capital.
Egypt’s PM Mostafa Madbouly and President of the New Development Bank, NDB Dilma Rousseff have discussed Egypt’s development experience in recent years, with the Prime Minister showcasing the New Administrative Capital as a key achievement. The two spoke during a meeting, on the sidelines of the NDB’s first international forum that kicked off on Tuesday in Egypt’s New Administrative Capital. The forum, held under the patronnage of President Abdel Fattah Al-Sisi, showcased the bank’s diverse activities, including mechanisms to support the private sector, provide concessional financing, and offer technical assistance to small and medium-sized enterprises.
Launched in 2016, the government has accelerated construction of the current headquarters and facilities in record time. Giving a vivid description of the New Administyrative Capital, Madbouly stated that it is a green city, where green spaces have been maximised and environmental standards implemented to achieve sustainability. He also emphasized the involvement of Egyptian companies in the project, stating: « We mainly relied on Egyptian companies, which have gained significant experience in building the New Administrative Capital. »
Madbouly referred to the Financial and Business District, which includes the tallest tower in Africa, built in cooperation with a leading Chinese company, as a testament to the significant contribution of Egyptian companies and labour to the establishment of the district. He noted that the government has successfully relocated 50,000 employees to the new capital, providing them and their families with essential services, including university and pre-university education.
Madbouly expressed his appreciation for Egypt being chosen to host the inaugural forum and emphasized the vital role the NDB will play in facilitating access to concessional financing, particularly with the addition of new members and the expansion of the BRICS group operational scope. Rousseff for her part expressed her admiration for the Egyptian government’s achievements in the New Administrative Capital, praising the « Egyptian experience in urban development, which demonstrates a high degree of precision and attention to detail. »
Madbouly also uncovered that Egypt is looking forward to the New Administrative Capital becoming a regionally attractive city within ten years.
