Minister of Planning Ahmed Rostom welcomed a delegation from the Islamic Development Bank (IsDB) in Cairo, noting the bank’s role in financing trade flows and strategic commodities for Egypt.
Rostom, who also serves as Egypt’s governor at the IsDB, met with the bank’s regional director, Noureddine Mabrouk, to discuss preparations for a 2027-2031 country partnership strategy. He said the cooperation portfolio between Egypt and the IsDB now stands at roughly $26 billion, reflecting a deep development partnership.
The talks covered expanding cooperation to bolster the private sector and introduce innovative financing mechanisms. Rostom highlighted the government’s work on the National Economic Transformation Programme, which aims to strengthen manufacturing, telecommunications, information technology, energy, tourism and agriculture. The programme seeks to raise these sectors’ share of GDP, create jobs and boost exports to attract investment.
Rostom also briefed the IsDB on a new infrastructure project financing guarantee mechanism being developed with the World Bank Group and other institutions. He invited the IsDB to join the scheme, which would provide long‑term local‑currency financing and lower investment risk for infrastructure projects.
Mabrouk praised the historic ties between the IsDB and Egypt, citing successful development and trade programmes. He said the bank had recently approved a new strategy for its member countries and that intensive discussions were under way to align the 2027‑2031 partnership with Egypt’s national priorities. The upcoming strategy will build on past successes in education, healthcare, financing essential imports and petroleum products.
Both sides expressed commitment to continue close cooperation that meets the needs of the current development phase while preparing for future reforms and resilience.
Why it matters: The $26 billion portfolio underscores the scale of external financing supporting Egypt’s economic reforms. Continued IsDB involvement could enhance private‑sector growth, infrastructure development and export capacity, influencing regional investment trends and Egypt’s role in the Middle East economy.