Nine local investment banks have agreed with the Egyptian government to be responsible for promoting the projects that the officials will present during the next economic summit to be scheduled soon.
The government held meetings with the International Monetary Fund mission, which is currently visiting Egypt, to receive the IMF report on the safety of the economy before the summit.
Each local bank will be assigned to promote certain aspects within the scope of its expertise, said Minister of Investment Ashraf Salman.
The banks expressed full readiness to work on promoting the projects free of charge, he added.
The government offered linking profit to the success of the media campaign, meaning banks will get a commission for attracting investors, said Salman.
The date of the economic summit will be determined so as to fit with the dates of the international community because the summit is supposed to attract foreign investments, according to Salman.
Meanwhile, the government is seeking through the meetings with the IMF delegation, which is currently visiting Egypt, to receive IMF’s report on the strength of the economy before the summit.
The IMF mission plans to visit the Ministry of International Cooperation Monday to check up the future plan of the ministry, as well as foreign loans, grants, and financial aid.
The mission will leave Cairo on 26 November after meeting as well with the Minister of International Cooperation Naglaa al-Ahwany and ministry senior aides and advisers.
The IMF mission's visit to Cairo helped in delivering a non-refundable Kuwaiti grant worth one billion dollars, said a high-ranking official at the Ministry of International Cooperation.
The payment of the US$2.5 billion Qatari deposit will be by the end of this month, the official said.
Paying the Qatari deposit will depend on foreign reserves at the Central Bank of Egypt and the Kuwaiti grant which will support the general budget.
