Egypt Approves 30 Public-Private Partnership Projects Worth 41 Billion EGP
Egyptian Finance Minister Ahmed Kouchouk stated that Egypt has approved 30 private sector partnership projects valued at 41 billion EGP, with the private sector capturing 65% of total investments.
Egyptian Finance Minister Ahmed Kouchouk stated that Egypt has prepared and approved 30 projects under the public-private partnership system, with an investment cost of 41 billion EGP.
He added that work has actually begun on the implementation of some of these projects, at a time when the private sector accounted for 65% of total investments.
The minister's remarks came during a session on the sidelines of the International Monetary Fund and World Bank meetings in Bangkok.
The minister pointed to future projects under the private sector partnership system in various fields that ensure the quality of execution, management, and maintenance. He stated that Egypt is working to strengthen economic partnerships between Africa and Europe, and seeks to increase the flexibility of development financing for African projects in local currency to reduce financing cost risks.
What do these terms mean?
Public-Private Partnership: A long-term collaboration between the government and private sector investors to finance and operate infrastructure projects and public services.
Investment Cost: The total amount required to establish a project before starting its operation.
IMF and World Bank Meetings: Events that gather finance and economic officials to discuss global economic conditions and policies.
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