On the sidelines of COP 28, Minister of Petroleum and Mineral Resources Tarek El Molla has held talks with the President and Chairman of the Board of Directors of the African Export–Import Bank (Afreximbank) Benedict Oramah.

El Molla affirmed the extended partnership between Egypt and Afreximbank, expressing his eagerness to strengthen bilateral cooperation, particularly in financing mining projects.

He also confirmed that the Egyptian mining sector has witnessed significant development since the launching of the mining sector’s modernization strategy by the Ministry of Petroleum and Mineral Resources, which provides an attractive investment climate. 

Moreover, Oramah pointed out that the Egyptian mining sector has promising capabilities which attracted a significant number of specialized international companies. He welcomed the idea of strengthening collaboration through exploring ways to providing the needed funds for mining projects in Egypt.

The meeting also discussed the support of Afreximbank for oil and gas projects, focusing on decarbonization and energy transition projects.