Thu, 28 Sep 2023

Egypt joins BRICS's New Development Bank

31 Mar 2023, 02:05 GMT+10

CAIRO, March 30 (Xinhua) -- Egyptian President Abdel-Fattah al-Sisi issued a presidential decree that allows the most populous Arab country to join the New Development Bank (NDB), the official news agency MENA reported on Thursday.

Headquartered in Shanghai, the NDB was established by the BRICS economic group which includes Brazil, Russia, India, China, and South Africa to enhance cooperation in infrastructure and sustainable development.

The NDB in December 2021 announced that it would add Egypt as its new member.

The Egyptian president took part in the 2017 and 2022 BRICS summits.

In July last year, the president of the BRICS International Forum Purnima Anand announced that Egypt, Saudi Arabia, and Türkiye have submitted bids for joining the BRICS group.

More Egypt News

Access More

Sign up for Egypt News

a daily newsletter full of things to discuss over drinks.and the great thing is that it's on the house!