Amb. Ekramy El Zaghat: Egypt is more cap...
02 Feb, 2025
WFDP Launches €3.8 Billion Development Initiative in Democratic Republic of the Congo with Chinese Partners
Ambassador Ekramy El Zaghat, President of the World Fund for Development and Planning, Special Adviser to the Economic and Social Council of the United Nations, announced that the Fund has implemented a number of projects in the Democratic Republic of the Congo as a continuation of the Fund's efforts in investment and development on the African continent.
El-Zaghat stressed that the implementation of projects between the fund and the government of the Congo will start in the first half of next October, with a total investment of 3.8 billion euros to implement 8 projects, noting that the most prominent of these projects is the implementation of power plants, with a total investment of one billion and 112 million euros. And a number of road projects at a cost of 750 million euros, train stations, and railway equipment at a cost of about 282 million euros.
The head of the World Fund added that the projects include educational institutes, a hospital, and social housing areas at a cost of up to 450 million euros, explaining that the company executing these projects is one of the fund's international investment partners, which is the Chinese National Chemical Engineering Company, and pointing out that the implementation of the projects will begin. Immediately after the signing of the agreement, in order to achieve development within the state of the Congo.
He continued, that the fund has many international partners, who seek to invest in the African continent for the sake of development and achieving stability in the countries of the continent, noting that the Chinese National Chemical Engineering Company is the same company with which an agreement was reached to invest in Egypt before the end of the year.
The Fund had recently announced that it had been agreed to start strengthening the partnership with the Egyptian government in investing in development and technological projects through the Fund’s alliances in different countries of the world, and its members from the international governmental economic entities, and to start implementing these huge investment projects during the coming period. Completion of signing contracts for alliances with international partners, to invest in Egypt at least $10 billion in partnership with the Egyptian government, as a start in the projects that will be worked on.
