Minister Al-Mashat reviews NIB’s role in boosting Egypt’s economy

PHOTO

Egypt’s Planning and Economic Development Minister Rania Al-Mashat has underlined the crucial role of the National Investment Bank (NIB) in driving Egypt’s economic growth and development.

Al-Mashat, who also chairs the NIB, met with the bank’s Vice Chairperson and Managing Director Ashraf Negm on Monday to discuss the institution’s ongoing projects and its broader contribution to the country’s development agenda.

The meeting was part of the minister’s regular consultations with government agencies and affiliated entities.

During the meeting, Al-Mashat emphasized the NIB’s mission to enhance government investment efficiency and support economic and social development. The bank plays a pivotal role in financing and overseeing projects, maximizing their developmental impact, she said.

Al-Mashat highlighted the NIB as a key economic and investment arm of the state, instrumental in implementing development plans and building infrastructure across various sectors. The bank’s efforts have contributed to increased productive capacity, attracted investment, and boosted economic growth in recent years, she added.

The minister also noted the bank’s focus on institutional capacity building to meet the challenges of the current economic climate.

The meeting covered the NIB’s involvement in joint ventures across sectors including fertilizers, petroleum, banking, financial services, food industries, urban development, mining, construction materials, and tourism.