IFC pledges USD 150 mn in investment in Egypt’s agriculture sector
The International Finance Corporation (IFC) has agreed to invest USD 150 mn in agricultural projects in Egypt in partnership with the private sector, Trade Arabia reports citing a government source. “The investments aim at developing the country’s nutrition sector, introducing the newest technologies in manufacturing, as well as providing new job opportunities for the youth.” IFC recently pledged USD 100 mn for oil and gas projects in Egypt.
This comes as the Kuwait Fund for Arab Economic Development and The Arab Fund for Economic and Social Development agreed to invest in the state-run Egypt Ventures, according to Al Borsa.
Egypt signs MoU with UNDP to establish investment fund for developmentprojects: Investment and International Cooperation Minister Sahar Nasr signed an MoU with the UNDP yesterday that will see the establishment of a new investment fund that will be specifically geared towards supporting development projects, according to a ministry statement. The agreement was signed during a UNDP conference in Cairo on sustainable development.