Dr. Nasr signs an Additional Financing Agreement with IDB for Avian Influenza Prevention.
On 18 May 2017, on the sidelines of the 42nd annual meeting of the Islamic Development Bank Group (IsDB) held in Jeddah, Saudi Arabia, the Minister of Investment and International Cooperation Dr. Sahar Nasr, signed a Memorandum of Understanding (MoU) with the CEO of the Islamic Corporation for the Development of the Private Sector (ICD) for cooperation to develop and finance the investment of infrastructure projects in the framework of public-private partnerships (PPP).
The Minister pointed out that the MOU is a result of the efforts of the Egyptian government, represented by the Ministry of Investment and International Cooperation (MIIC), to encourage investments, support and enlarge the pool of private sector investors in Egypt, and support PPPs to finance infrastructure and mega projects.
According to the Minister, the finance program aims at mitigating the pressure on the state budget and accelerating the implementation and operation of infrastructure projects by engaging the private sector. This can be applicable by mobilizing resources and technical expertise for these projects, such as school buildings; health care facilities such as hospitals, major health centers and rural clinics; housing projects such as social housing, middle-income housing and labor housing; in addition to facilities for sports and youth activities.
Furthermore, the Minister signed an additional financing agreement with Dr. Bandar Hajjar, President of IDB Group, which is dedicated to the avian influenza prevention and control project worth an approximate value of USD 10 million. This comes as a part of the government's efforts to support the healthcare sector and improve the quality of healthcare services so as to reach international standards of healthcare quality, enhance citizen’s health, and provide quality treatment and preventive services for all sects of the society.
The Minister explained that the project aimed at supporting the Egyptian government’s efforts to fight the avian flu, support competent authorities to reduce the spread of the disease across Egypt and infection of both animals and human beings, thereby control the disease.
Dr. Nasr witnessed the signing of an MOU between ICD and COMESA regional investment agency, to promote investments in the region.