Egypt - Economic Summit: Assistance to Middle Income Countries (MIC)

The proposed operation is a grant of UA 390,000 (equivalent to USD 585,000) to the Government of Egypt from the MIC TAF to Support the Egypt’s International Economic Investment Conference implementation. This is an identified need for institutional support to the dedicated unit established within MIC to enable them to utilize innovative methods for resource mobilization, such as the organization of world-class investment conferences, towards Egypt’s economic recovery. The International Economic Conference planned for March 2015 will be the first initiative to be managed by this unit. The objective is to build institutional capacities within the Ministry of International Cooperation in support of management, oversight and coordination of the 2015 International Economic Conference. The Conference is expected to unveil investment opportunities for both the private and public sector, to the tune of USD 60-80 Billion. It targets 500 key global investors and financing organizations including the AfDB and similar multilateral development organizations. Participants will include strategic political decision makers such as Heads of State, the G20 Central Bank Governors and leaders of major international financial organizations, in addition to business leaders and CEOs of top global wealth and investment funds, business tycoons, and opinion leaders. The project is structured into three main components: (i) Institutional Capacity Building through Advisory Services; (ii) Logistical Support; and (iii) Project Management. It will be implemented over a period of 1 year from grant effectiveness.