El Zaghat confirmed in a statement today that the conference is scheduled to take place in March of next year, with ministerial representation from the participating countries. The ministerial meeting of the fund will be held alongside the conference. He clarified that discussions are currently underway regarding the location of the event, with Cairo and Dubai being the top contenders. The final location will be announced in the coming period. El Zaghat also noted that 3,500 global investment companies have expressed interest in participating, with the fund aiming for 7,000 companies, in addition to anticipated government investments from member states and banks seeking to invest in developing countries, especially in Africa.

El Zaghat emphasized that the fund has signed official agreements as part of its efforts to support developing countries, the latest of which include new agreements in Burkina Faso and several agreements in Somalia, including the construction of an airport and initiatives addressing climate change and digital technology. He explained that the alliance aims to support developing countries by providing investment opportunities from member states and presenting integrated solutions in terms of development and financing.

The President of the World Fund for Development and Planning stressed that one of the main objectives of the conference is to create opportunities for development and financing without resorting to borrowing or putting pressure on the financial systems of the target countries. Instead, the focus will be on providing direct investment opportunities and immediately starting their implementation through companies and investors who have shown interest in investing. This will be achieved through the optimal use of natural resources and the advantages of these countries, particularly since African nations face a financing crisis for their projects, which the conference seeks to address with sustainable solutions.

The statement further clarified that the expected initial investment from the conference is $100 billion, through the various partnerships that countries have shown interest in executing. It also mentioned that investment and government community programs will be showcased at the conference.

Regarding the importance of Egypt hosting the conference, El Zaghat stated that it represents a powerful opportunity to increase direct investments in Egypt and for the Egyptian government to present available investment opportunities to the participating countries to contribute to accelerating development and attracting more foreign investments.

He added that major international organizations participating in the conference include the United Nations and the African Union. The conference’s primary goal is to provide comprehensive solutions to developing countries and introduce new financing mechanisms without imposing financial pressure on these countries.

El Zaghat also mentioned that a press conference will be held to announce all the details of the conference, including the participating countries, organizations, and companies, once the final arrangements are completed.