Egypt is set to host the New Development Bank’s (NDB) inaugural international forum outside the BRICS countries on June 11-12. This landmark event underscores Egypt’s growing influence and active engagement in international economic affairs, as well as the NDB’s commitment to expanding its reach and impact beyond its founding member states of Brazil, Russia, India, China, and South Africa.
The New Development Bank, established in 2014 by the BRICS nations, aims to support public and private projects through loans, guarantees, equity participation, and other financial instruments. Hosting this forum in Egypt signifies the bank’s strategic vision to foster development partnerships and cooperation with non-BRICS countries.
Egypt’s selection as the host country for this forum is indicative of its robust economic reforms and its pivotal role in the region. Since joining the NDB in 2021, Egypt has actively sought to enhance its infrastructure, energy, and industrial sectors through various development projects. The forum is expected to bring together government officials, business leaders, and development experts from around the world to discuss sustainable development strategies, infrastructure investment, and financial cooperation.
The event’s agenda will likely focus on key areas such as renewable energy, digital infrastructure, and inclusive growth. These topics are particularly relevant to Egypt, which has been investing heavily in renewable energy projects, including solar and wind power, to diversify its energy mix and reduce dependence on fossil fuels. Additionally, digital transformation initiatives are crucial for enhancing economic resilience and competitiveness in the post-pandemic era.
Hosting the NDB forum aligns with Egypt’s broader economic goals and its Vision 2030 strategy, which aims to achieve sustainable development, improve the quality of life for its citizens, and strengthen its position as a regional economic hub. The forum provides a platform for Egypt to showcase its achievements and potential, attract investment, and forge new partnerships.
Moreover, the event emphasizes the NDB’s role in facilitating south-south cooperation and promoting financial stability. By holding its first international forum outside the BRICS countries in Egypt, the NDB demonstrates its inclusive approach and dedication to supporting a wider range of developing economies. This move also reflects the growing recognition of Egypt’s strategic importance and its capability to contribute to global development dialogues.
