Egypt receives MENA Transition Fund’s $2.4 mln PPP support grant

Big 5

Egyptian Ministry of Finance and of International Cooperation signed Wednesday a cooperation protocol to support a public-private partnership programme, as the country received the Middle East and North Africa Transition Fund’s $2.4 million grant.

The protocol was signed by Minister of International Cooperation Sahar Nasr and Minister of Finance Amr el-Garhy.

Created in April 2012 and managed by the World Bank, the Middle East and North Africa Transition Fund supports projects that provide technical training and expertise to local stakeholders and promote knowledge exchanges between international financial institutions, countries in the Middle East and North Africa and donors.

The fund aims to provide grants to public and private institutions in five countries in the region; Egypt, Jordan, Libya, Morocco, and Tunisia for projects in the following areas: (a) investments in sustainable growth; (b) inclusive development and job creation; (c) enhanced economic governance; and (d) trade competitiveness and integration.

The Fund is an initiative of the Deauville Partnership with Arab Countries in Transition. The Deauville Partnership is a long-term, global partnership that was established in 2011 to respond to the historic changes in some of the countries in the Middle East and North Africa region. It aims to help these countries by supporting their transition to democracy, strengthening governance, fostering economic and social inclusion, creating jobs, supporting private sector-led growth, and advancing regional and global integration.