Minister of Investment and International Cooperation Sahar Nasr has met with Director of the United Nations Development Program (UNDP) in Egypt Randa Aboul-Hosn to tackle the measures issued within the framework of the new UN strategy in the country, Invest-Gate reports.

The meeting was on the sidelines of the World Youth Forum, currently taking place in the Red Sea resort city of Sharm El-Sheikh.

The two officials also discussed the activities of the Investment Development Fund, launched by the ministry in cooperation with the UNDP, with the aim of establishing incubators for the business leadership in Egypt and support small-scale investments.

The fund also aims to achieve developmental goals such as decreasing poverty, providing job opportunities as well as promoting renewable energy.

Nasr asserted the importance of placing the youth projects as a top priority, propelling the private sector to increase support to development plans along with assisting emerging companies to achieve higher growth rates.

The UNDP country director, on her part, said the Investment Development Fund is the first initiative of its kind in the Middle East and Africa region in the fields of innovative and sustainable financing for development.