Blended Finance Boosts Private Investments In Logistics, Port, And Airport Management: Finance Minister
Date
9/25/2024 2:19:11 PM
(MENAFN- Daily News Egypt) Minister of Finance Ahmed Kouchouk held a bilateral meeting with Zhongjing Wang, the CEO of the Multilateral Cooperation Center for Development Finance (MCDF) in China, on the sidelines of the Asian Infrastructure investment bank (AIIB) meetings in Uzbekistan.
They discussed ways to enhance cooperation between the two sides. They also exchanged ideas aimed at advancing comprehensive and sustainable development in developing countries, particularly in light of the severe economic challenges posed by global crises.
The Minister emphasized that Egypt's vision aligns with that of the MCDF and that the partnership continues to fund high-priority, sustainable development projects in Egypt, contributing to the government's action plan goals. He noted that there are numerous opportunities for cooperation in sectors such as clean transportation, renewable energy, and water management.
Kouchouk highlighted that blended finance-an innovative financing solution-can further stimulate private investments in logistics, port, and airport management. He expressed a desire to expand the MCDF's scope to include both regional and non-regional countries.
The Minister also proposed the establishment of a global platform through the MCDF for the exchange of knowledge, best practices, and technical expertise in development finance. He pointed out that Egypt plays a significant role in regional development through joint projects in the Middle East and Africa.
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