Egypt wins Arab Fund for Economic and Social Development governors council chairmanship

Egyptian International Cooperation Minister Sahar Nasr won the chairmanship of the 46th round of the governors' council of the Arab Fund for Economic and Social Development (AFESD).

The announcement was made during a meeting of Arab financial institutions in the Bahraini capital on Wednesday. Nasr was attending the meeting in her capacity as Egypt's governor to AFESD and Egypt's governor to the Arab Bank for Economic Development in Africa (BADEA).

Addressing the meeting, Nasr said Egypt appreciates the role of Arab funding institutions in boosting development efforts in the country and the Arab region.

The development of Arab countries will not be realized without the efforts of their people, she said.

The Egyptian economy enjoys the confidence of funding institutions, making the country among the top beneficiaries of funding packages, she said, pointing out to the signing of two funding agreements with the AFESD worth $400 million to speed up the enforcement of water and agriculture projects in the Sinai Peninsula.

Source : MENA