Egypt’s NDB membership to boost cooperation

Huge potential: Tourists in the Red Sea resort of Sharm el-Sheikh. Egypt has enormous investment opportunities in various fields such as tourism as well as a large and open market, which can benefit its partners. — AFP

CAIRO: Egypt, as a new member of the Brazil, Russia, India, China, and South Africa or BRICS New Development Bank (NDB), will have more relevant opportunities for cooperation with other emerging economies, say Egyptian economic experts.

The NDB had recently announced Egypt’s new membership of the Shanghai-based bank, which was established in 2015 by BRICS member states to finance sustainable development projects in developing economies.