Ahmed Rostom, Minister of Planning and Economic Development and Egypt’s Governor at the Islamic Development Bank (IsDB) Group, met with Adeeb Yousuf Al-Aama, CEO of the International Islamic Trade Finance Corporation (ITFC), an entity of the IsDB Group, at the conclusion of the Group’s delegation visit to Cairo.
The meeting followed a series of specialised discussions with sectoral ministries to assess financing needs and priorities, as part of intensive consultations to formulate the joint country strategy between Egypt and the IsDB Group for 2027-2031.
The meeting was attended by Tamer Mostafa, Assistant Foreign Minister for Economic Affairs and International Cooperation; Nour El-Din Mabrouk, Director of the IsDB Group’s Regional Office in Cairo; and senior officials from both sides.
During the meeting, Rostom discussed Egypt’s interest in continuing its longstanding development partnership with the IsDB Group, commending its vital role in providing innovative and sustainable financing mechanisms for strategic sectors, particularly energy and food security, in line with the objectives of comprehensive development and Egypt Vision 2030.
He stressed the importance of leveraging this partnership to support the private sector, strengthen the export capabilities of Egyptian companies and expand access for their products to regional and international markets, thereby contributing to greater Arab and African trade integration.
The minister also highlighted the importance of implementing technical training and institutional capacity-building programmes to empower the private sector, particularly small and medium-sized enterprises (SMEs).
For his part, Al-Aama reaffirmed the ITFC’s commitment to deepening its development partnership with Egypt, which gained significant momentum in 2008 and has since seen the signing of five framework agreements with total approved financing exceeding $26.4bn.
He also highlighted progress in plans to expand cooperation with Egypt’s private sector through new credit lines provided via local banks to facilitate trade flows and stimulate productive activities.
The meeting concluded with a review of the main pillars of the new 2027-2031 Country Strategy and the outcomes of consultations conducted by the IsDB Group delegation in Cairo with various national stakeholders.
Both sides underscored the importance of directing future financing and programmes towards economic sectors that deliver a direct and positive impact on citizens’ quality of life, while strengthening the Egyptian economy’s capacity to sustain growth and respond to global challenges.
