Cairo - Mubasher: The Egyptian Minister of International Cooperation Sahar Nasr signed on Saturday a Memorandum of Understanding (MoU) with Khaled Al-Aboodi the chairman of the Islamic Corporation for the Development of the Private Sector (ICD).

The agreement is regarding the mutual cooperation in the development and financing of social infrastructure projects in Egypt, according to a press release.

Minister Nasr stressed the importance of the Islamic Development Bank’s role in financing social developmental projects, such as small and medium enterprises, which are vitally important to achieving a sustainable development in Egypt.

The president of the Islamic Development Bank Bandar Hajjar said that the bank’s delegation will discuss in December a new strategy for Egypt, consisting of three pillars, infrastructure, employment, and providing job opportunities.

Hajjar also expressed his desire to open a headquarter for the bank in Egypt by the beginning of the new year.