Cairo will host the third Euro-Mediterranean Conference for funding on 9 February, according to

 

a statement on Monday by the head of the General Union of Chambers of Commerce and

 

vice-president of the Federation of the Mediterranean Chambers, Ahmed al-Wakeel.

 

 

 

The conference aims to display the available mechanisms for trade, industry and services to the private sector in Egypt and the southern countries of the Mediterranean. Wakeel said the step would encourage economy and exports as well as attract investments.

 

He pointed out that representatives for the European Union, World Bank, Development Bank of Africa,

 

Islamic Development Bank, European Investment Bank, European Bank for Reconstruction and

 

Development, and Japanese, Chinese, Italian, Spanish and Canadian aid agencies would participate in

 

the event.

 

 

 

Mohamed Zaki al-Suwaidy, Chairman of the Federation of Industries, said that the conference also

 

intends to open channels of communication with donors that have not dealt with Egypt before, as well as

 

maximizing the use of grants and funding mechanisms facilitators that are available for

 

 

the Mediterranean region as a whole.

 

 

 

Suwaidy said that donor agencies are currently one of the basic ways to finance growth and

 

modernization plans which they seek to implement through a variety of regional and sectoral projects.

 

 

The conference will discuss non-bank funding mechanisms that have succeeded in driving growth in

 

many developed countries.