Many Egyptian experts believe that by becoming a member of BRICS and gaining access to NDB loans, Egypt will be able to implement many economic projects more effectively and successfully.

After Egypt joined BRICS, not only the Foreign Minister, but also Egyptian President Abdel Fattah el-Sisi himself are actively advocating for a more stable structure vis-à-vis international debt and the provision of necessary financing to achieve the Sustainable Development Goals (SDGs) in developing countries. According to Egyptian experts in economics and finance, this can be achieved through grants, concessional financing, technology transfer and capacity building.

The importance of Egypt for BRICS

It should be recalled that due to its geographical location, Egypt is the gateway between Asia and Africa and is the most important corridor for world trade, which underlines its importance in the global economic system. Egypt holds a significant share in world trade and is one of the most industrially developed African countries, also having a large population with huge human potential to achieve high economic growth rates.

“Egypt has pioneering experience in its national projects to support the local economy”, Dilma Rousseff, President of the New Development Bank (NDB), affirmed. The NDB mission visited several major national projects in Egypt, assessing the country’s ability to develop and implement strategic projects in line with the bank’s sustainable development goals and vision.

These projects include a fully intellectual New Administrative Capital, built........

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