MCDF CEO Zhongjing Wang recently met several Egyptian government ministers and representatives of its leading banks in Cairo to promote connectivity infrastructure in Egypt and neighboring African countries.

Egypt is set to play a key role in enhancing sustainable regional connectivity. It is currently planning to build power transmission lines to export energy to neighboring African countries, while ramping up its generation of renewable power to account for 42 percent of its energy needs by 2035.

Mr. Wang explained how MCDF can utilize its partnerships and grant resources to assist developing countries by fostering investments in high-quality connectivity infrastructure which adhere to accredited International Financial Institution (IFI) standards. The discussions covered how MCDF could work with Egyptian banks, along with MCDF’s Multilateral Development Bank partners, to help build sustainable connectivity infrastructure in renewable energy, transport, logistics and telecommunications.

Mr. Wang said: “MCDF shares Egypt’s vision for greater climate-smart connectivity with its neighboring countries and beyond, and we are eager to work with our partners to progress this goal.”

MCDF CEO meets Egyptian Minister of Finance Dr. Mohamed Maait

MCDF CEO meets Egyptian Minister of Electricity and Renewable Energy Dr. Mohamed Shaker El-Markabi

MCDF CEO meets Egyptian Minister of Transport Mr. Kamel Al-Wazir

Mr. Wang met separately with the Egyptian Minister of Finance Dr. Mohamed Maait; Egyptian Minister of International Cooperation Dr. Rania Al-Mashat; Egyptian Minister of Electricity and Renewable Energy Dr. Mohamed Shaker El-Markabi; Egyptian Minister of Planning and Economic Development Dr. Hala El-Said; and Egyptian Minister of Transport Mr. Kamel Al-Wazir. He also met Vice Minister of Finance for Fiscal Policies and Institutional Reform Mr. Ahmed Kouchouk.

MCDF CEO meets Egyptian Minister of International Cooperation Dr. Rania Al-Mashat

MCDF CEO meets Egyptian Minister of Planning and Economic Development Dr. Hala El-Said

Mr. Wang also held discussions with Chairman of the National Bank of Egypt Mr. Hisham Okasha and Chairman of Banque Misr Mr. Mohamed El-Etreby in addition to senior management from both banks, as well as representatives from the Cairo-based African Export-Import Bank.

MCDF is a multilateral initiative designed to foster high-quality infrastructure and connectivity investments in developing countries, through the wider application of the standards of accredited International Financial Institutions (IFIs). It supports information-sharing, capacity building, and project preparation for both developing country governments and new partners.

Egypt is a donor and founder of MCDF, while it is also currently acting as the chair of MCDF’s Governing Committee.