ABU DHABI, 7th October / WAM / His Excellency Mohammed Saif Al-Suwaidi, Director General of the Abu Dhabi Fund for Development, discussed during his meeting with His Excellency Tariq Hassan Amer, Governor of the Central Bank of Egypt and his accompanying delegation, bilateral relations in various economic fields and ways to develop them, especially with regard to financing investment projects, and efforts The leadership of the UAE, which contributed to promoting sustainable economic development in the Arab Republic of Egypt.
The meeting was attended by His Excellency Khalifa Abdullah Al Qubaisi, Deputy Director General of the Abu Dhabi Fund for Development, and Rashid Al Kaabi, Director of the Investments Department of the Fund.
His Excellency Mohamed Seif Al-Suwaidi welcomed the Governor of the Central Bank of Egypt, and praised the depth of the bilateral relations that link the two countries in various fields, and stated that the visit of the Egyptian delegation to the Fund is an opportunity for consultation and discussion on strengthening future cooperation mechanisms, and considering economic opportunities of national priority for the Egyptian government.
He added that the Fund, over the course of nearly fifty years of strategic partnership and pioneering work with the Egyptian government, contributed to enhancing Egypt’s development process and supporting its efforts in implementing its development goals by financing many development and investment projects, which played a pivotal role in bringing about positive change in various aspects of life. Economic and social in Egypt.
He stressed that the fund will continue its developmental role by studying and discussing investment opportunities with the Central Bank and using the available investment tools to support the Egyptian government’s endeavors and achieve its goals and future aspirations.
For his part, the Governor of the Central Bank of Egypt praised the great efforts made by the UAE, represented by the Abu Dhabi Fund for Development, in helping the Egyptian government achieve economic and financial stability, through deposits deposited by the Fund in the Central Bank of Egypt for use in financing development projects within key sectors. Contributed to the advancement of the Egyptian economy.
During the meeting, His Excellency reviewed the reform programs and legislation taken by the Egyptian government, which effectively contributed to creating a stimulating environment for investment and enabling the Egyptian economy to achieve positive results during the past years.
It is worth noting that the Abu Dhabi Fund for Development, since the beginning of its activity in the Arab Republic of Egypt in 1974, has financed more than 75 strategic projects in Egypt with a total value of approximately 3.3 billion dirhams, and these projects included several vital and diverse sectors. The Fund also invests in the “Abu Dhabi Tourism Investments Company” in Egypt by 84.3%, which aims to support the tourism sector and improve tourism services, which is an important tributary in stimulating and developing the Egyptian economy.