Cairo – Mubasher: The African Development Bank Group (AfDB) has invested $2.8 billion in 30 projects in Egypt, the bank’s president Akinwumi Adesina said.

Adesina has praised Egypt’s economic reform programme that according to a report by Rand Merchant Bank has improved the Arab country’s economy and made it top African peers in terms of foreign direct investment (FDI), the Egyptian investment ministry said in a statement.

He stressed that Rand Merchant Bank’s report has boosted investor confidence in the Egyptian economy in light of the huge infrastructure projects implemented in the North African country in the past four years.

This came on the sidelines of a meeting between Egyptian investment and international cooperation minister Sahar Nasr, electricity minister Mohamed shaker, and the president of AfDB during the Africa Investment Forum in Johannesburg, South African.