EBRD Partners With Egypt To Launch New PPP Project Preparation Facility

(MENAFN- Daily News Egypt) A new mechanism for preparing public-private partnership (PPP) projects has been launched in Egypt, in a collaboration between the Ministry of Finance and the European Bank for Reconstruction and Development (EBRD).

Speaking at the launch event, Minister of Planning, Economic Development and International Cooperation, Rania Al-Mashat, said the partnership would provide technical and financial support for implementing PPP projects in various sectors.

She noted that the initiative complements the state's efforts to enhance the role of the private sector, praising the EBRD for directing over 80% of its investments in Egypt to the private sector.

“Egypt is a platform for all international partners, which reflects the international community's recognition of the seriousness of economic reforms and the Egyptian state's vision for empowering the private sector,” Al-Mashat said. She added that partnerships with international financial institutions are undergoing a“qualitative shift” to support government policies, alongside providing concessional financing for local and foreign investments.

The minister pointed to the positive developments in the Egyptian economy, with GDP growth reaching 4.77% in the third quarter of the fiscal year (FY) 2024/25, compared to 2.2% in the same period the previous year. She said this was the highest quarterly growth rate in three years and that the growth is“improving in quantity and quality,” driven by developments in vital sectors such as exports, private investment, and non-oil manufacturing.

Al-Mashat also highlighted the rise in private sector investment to 62.8% of the total in the third quarter, surpassing public sector investment, compared to only 42.5% last year.

She referenced the recent launch of the“National Narrative for Economic Development,” a comprehensive framework that integrates the government's work programme with Egypt's Vision 2030. The narrative aims to continue the path of economic reform, shift towards more productive, export-oriented sectors, and redefine the state's role in the economy to enhance competitiveness and stimulate private sector participation.

The launch event was attended by the ministers of finance, justice, education, tourism, and civil aviation, as well as the head of the Suez Canal Economic Zone and the EBRD's regional director for the Southern and Eastern Mediterranean.

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