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Egypt, UNDP Sign Accord to Set up Development Investment Fund
Source: 6/21/2017

Egypt will have its first development investment fund established under an agreement with the United Nations Development Program (UNDP).

The accord to set up the fund by a recently-established Egyptian entrepreneurship company and the UNDP was signed by Investment and International Cooperation Minister Sahar Nasr and UNDP Country Director Randa Aboul-Hosn

The planned fund will initially form a body to boost growing development projects and to promote investments that contribute to achieving the development goals including poverty eradication, job creation and renewable energy, said Nasr.

The UNDP will provide capacity building and consultation services for the designed body, she noted.

Startup companies will be encouraged through market incentives that allow such ventures to compete including partnership in capitals, the minister.

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