Egypt landed the third place among the top 10 countries that benefited the most from the Islamic Development Bank (IsDB) Group’s financial allocations from August 2018 until December 2020.
Egypt secured a total funding from $12.7 billion from the group to build 238 projects, including 287 completed projects ($9.7 billion) and 51 under-development projects ($3 billion), the Minister of Planning and Economic Development, Hala El-Saeed, said in a statement on Tuesday.
Since the IsDB Group signed the host country agreement (HCA) with Egypt in October 2018, the two sides have entered into several agreements, including $3 billion deal to be allocated until 2021 for several development projects in electricity, infrastructure, and transportation sectors.
