Finance Ministry pens €10M agreement with EBRD to boost Egypt's private sector growth
Updated 2/5/2025 2:06:00 PM
Arab Finance: The Egyptian Ministry of Finance signed a cooperation agreement with the European Bank for Reconstruction and Development (EBRD) to establish an “Egypt Account” with a capital of €10 million, as per a statement by the Egyptian ministry on February 5th.
The account will finance feasibility studies and advisory services for private sector partnership (PPP) projects, reducing the approval period for financing from one year to two months.
The initiative was proposed by the Central Unit for Private Sector Partnership at the Ministry of Finance to support Egypt’s efforts to expand private sector involvement and boost its contribution to economic growth.
Minister of Finance Ahmed Kouchouk explained that the “Egypt Account” aims to secure development financing to encourage local and foreign private sector investments.
The initiative accelerates the contracting process with consultants for PPP projects to six weeks, facilitating the launch of multiple projects simultaneously.
Kouchouk added that in 2024, 10 projects were signed under the PPP system with a total investment cost of EGP 19.8 billion in the sectors such as solid waste conversion, dry ports, sanitation, electricity distribution, technical education, and strategic goods warehouses.
He noted that nine new projects, worth approximately EGP 53.9 billion, are currently under tender in transformer stations, water desalination, sewage treatment, and technical schools.
The ministry is also preparing 10 additional projects for offering at an estimated investment cost of EGP 37 billion, focusing on transformer stations, industrial drainage, and electricity distribution networks.
These projects aim to drive growth across various sectors and promote sustainable development.
Related News
