Egypt finalizes $900M debt swap deals with partner countries: Madbouly
Updated 7/1/2025 8:16:00 AM
Arab Finance: Egypt succeeded in finalizing debt swap agreements at a value exceeding $900 million with partner countries, Prime Minister Mostafa Madbouly announced.
Part of the funds were allocated as part of the Nexus of Water, Food, and Energy program (NWFE).
Madbouly’s remarks came during a general discussion session at the Fourth International Conference on Financing for Development (FfD4), currently held in the Spanish city of Seville.
He added that Egypt secured approximately $15.6 billion in private sector financing between 2020 and May 2025, $4 billion of which was directed to participants in projects under the NWFE's program.
The prime minister emphasized the importance of creating a roadmap to enhance developing countries’ access to concessional and low-cost financing.
To achieve these objectives, he affirmed the need to address existing imbalances in the global financial structure, continue implementing the reform of international financial institutions and multilateral development banks, and encourage donor countries to fulfill their commitments.
In addition, Madbouly called for taking tangible steps to reform the international debt structure while containing the growing sovereign debt in developing countries.
Finally, he urged providing the necessary tools to enable developing countries to achieve sustainable development through technical support, capacity building, technology transfer, and the promotion of the use of AI-based tools.
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