Ongoing development financing portfolio of the European Bank for Reconstruction and Development (EBRD) in Egypt amounted to €4.4 billion, Minister of International Cooperation, Rania Al-Mashat, said Wednesday.
Al-Mashat explained, in a statement that the portfolio is directed to finance the implementation of 105 projects, 58 percent of the funds for the private sector and 42 percent for the government sector, which reflects the state’s tendency to enhance the participation of the private sector in development efforts through international partnerships, in order to enhance sustainable development.
She added that the Ministry of Transport benefits the most from current funds, at €721 million.
Al-Mashat noted that the development funds agreed upon by the Ministry of International Cooperation, with multilateral and bilateral development partners, for the private sector amounted to $ 3.2 billion, representing 32 percent of the total development financing concluded during the past year, valued at $ 9.8 billion.
She stressed that this year will witness further stimulation of the private sector’s participation in development through green financing provided by international institutions.
Egypt Today
