Nasr signs agreement with UNDP to establish development fund

Investment Ministry, UNDP to establish USD 50 mn development fund: Investment and International Cooperation Minister Sahar Nasr signed an agreement with the United Nations Development Programme (UNDP) to establish the first investment fund for development projects in Egypt with a target capital of USD 50 mn, according to a ministry statement. The fund, which will be co-financed by the ministry’s newly established Egypt Company for Entrepreneurship and the UNDP, will launch a startup incubator. Support will be offered to both investors and companies through partnerships.