The House of Representatives has approved a presidential decree okaying an agreement for Egypt to join the New Development Bank (NDB) affiliated with the BRICS bloc.

Egypt should become the ninth member of the NDB, now that parliament has approved President Abdel Fattah El Sisi’s decision.

On January 15, the House referred the presidential decree to a joint specialized committee for further probe.

Egypt is seeking to benefit from the different NDB activities, including in sustainable development and regional integration.

Through its NDB membership, Egypt could very well benefit from infrastructure investments in the fields of energy, transport, water and communications, as well as health.

Source: State Information Service Egypt