International Cooperation Minister Sahar Nasr said Friday the ministry secured a $650,000 grant from the African Development Bank to support the "Business for Africa, Egypt and the World Forum - Africa 2016," to kick off on Saturday.

In statements, the minister added that the ministry has already begun coordinating with various financial institutions like the World Bank, the African Bank and the Islamic Development Bank to mobilize resources and technical assistance for important regional integration projects.

The ministry is working on drafting a number of integral initiatives to finance regional projects in the fields of transport, energy and communications technology in Africa, Nasr said.

President Abdel Fattah Sisi will open the two-day forum that will be attended by a raft of African leaders and world figures.

The forum is organized by the ministries of investment, foreign affairs, supply and internal trade and international cooperation in collaboration with COMESA, said a statement by the cabinet on Friday.

It will discuss various economic issues such as joint investments in infrastructure, agricultural projects, communications, information technology and medical care.

Source: MENA