The Organization for Economic Cooperation and Development (OECD) has raised Egypt’s rating on the country risk index from level six to five as an attractive destination for investment, Invest-Gate reports

The country’s improvement in OECD’s risk index was backed by President Abdel-Fattah El-Sisi’s achievements in boosting Egypt’s investment climate and creating a supportive business environment, which positively contributes to increasing the investment inflows from European countries, according to a ministerial statement on February 2.

Out of 201 countries included in the organization’s report, Egypt, Albania, Kazakhstan, and Uzbekistan were the only nations whose classification witnessed progress.

This came in less than a month after Minister of Investment and International Cooperation Sahar Nasr’s meeting with Angel Gurría, secretary-general of the OECD, during their participation in the Private Finance for Sustainable Development Week in France.

During the forum, Gurría confirmed that Egypt is one of the leading countries that the organization is cooperating with in the field of development, in the recognition of the country’s reform programs.

On her part, Nasr noted that raising the rating of Egypt on OECD’s index will contribute to attracting capitals for financing and implementing major national projects across the country, according to the statement.

She pointed out that the coming period will witness the preparation of a strategy for cooperation between Egypt and OECD.