(MENAFN- Daily News Egypt) At the official launch of a new Public-Private Partnership (PPP) project preparation mechanism, Egypt's Minister of Finance Ahmed Kouchouk announced the establishment of a dedicated account to finance feasibility studies and advisory services for upcoming PPP initiatives. The fund, launched in cooperation with the European Bank for Reconstruction and Development (EBRD), is backed by an initial capital of €10m.

The announcement was made during an event organized by the Finance Ministry's Central Unit for PPPs, attended by several cabinet members and senior officials. Kouchouk praised the EBRD's continued support for Egypt's PPP program and highlighted the government's commitment to creating a conducive environment that encourages private sector participation and builds investor trust.

Kouchouk noted that the private sector-both domestic and international-already contributes to 65% of total investments in Egypt. He reaffirmed the government's strategy of offering attractive, bankable projects to investors and financial institutions alike.

In fiscal year 2023/24, Egypt approved and began implementing 30 PPP projects valued at EGP 41 billion , spanning diverse sectors such as dry ports, potable water, wastewater treatment, sludge management, power substations, electricity distribution, and technical education. Upcoming PPP projects are expected to carry investment costs of between EGP 25bn and EGP 30bn .

Ater Hanoura

Ater Hanoura, Advisor to the Finance Minister for PPPs, described the new mechanism as a model of effective collaboration with the EBRD. He explained that the initiative significantly accelerates the project preparation timeline, reducing the typical contracting period for consultants from approximately 15 months to just eight weeks . This allows for the parallel launch of more than 10 PPP projects .

Hanoura emphasized that the preparation costs will ultimately be reimbursed by the winning investor, ensuring the financial sustainability of the account. He also highlighted the mechanism's potential to support the development of green PPP projects , aligning with Egypt's broader sustainability agenda.

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