Egypt to hold first NDB seminar outside BRICS founding countries

Egypt will host the first New Development Bank (NDB) seminar outside the BRICS founding countries on 11 and 12 June. The event, held under the auspices of President of Egypt Abdel Fattah Al-Sisi, is jointly organised by Egypt's Ministry of International Cooperation and the NDB following Egypt's accession to the bank in March 2023.

The discussion will focus on opportunities for future cooperation between the founding and new BRICS members, optimising the use of existing resources. 

The two-day event will be attended by senior representatives from the NDB, international financial institutions, the private sector, government, and international and local think tanks. The first day will feature presentations by NDB officials on the financing and non-financing mechanisms available to member countries.

A key topic will be Egypt's multi-vector development and investment plan, highlighting opportunities in renewable energy, infrastructure development, and the Suez Canal Economic Zone. This is reported by Daily News Egypt, a partner of TV BRICS.

The broader theme of advancing global development through South-South cooperation will also be addressed. 

The bank specialises in financing infrastructure and sustainable development projects, having already financed 96 projects worth US$33 billion.