Egypt participates in launching financing platform between 10 international banks

Minister of International Cooperation and Governor of Egypt at the World Bank Group, Rania al-Mashat, participated in the launch of a joint financing platform between 10 multilateral development banks, as part of the spring meeting of the International Monetary Fund and the World Bank.

The platform seeks to direct additional capital to expand the scope of development, advance efforts across the global financing scene and mobilize large funds for developmental projects globally.

It includes a digital co-financing portal to create a secure platform for registered financing entities to identify projects ready for financing, which will increase efficiency and transparency, and will make it easier for multilateral development banks to exchange information and identify co-financing opportunities.

The forum will support ongoing efforts to coordinate policies and reduce burdens on partner countries.