ICEC

U.S. Hosts Discussion with Private Sector on Supporting Development in Egypt

The  United States Government expressed appreciation today at an event in Cairo to its private sector partners for their contributions to Egypt’s development.  Since 2008, private sector partners have contributed more than $16 million in funding or in-kind support to development projects in health, education, and economic growth in Egypt in partnership with the U.S. Agency for International Development (USAID).

“Together, with our combined skills and resources, we can achieve solutions that neither of us could solve alone – to problems such as youth unemployment, illiteracy, and lack of connectivity,” said U.S. Ambassador to Egypt, Anne W. Patterson.  “By combining our assets, experience, and creativity, we can accelerate inclusive growth leading to improvements to achieve Egypt’s social and economic goals.”

Following the Ambassador’s remarks, a roundtable discussion focused on how the private sector and the U.S. Government can work together to maximize development outcomes, especially during the current transition.  One participant noted the value of the recent agreement between MAKRO and USAID, which will help increase incomes of 10,000 small scale farmers while improving food safety and quality.  She stated that “more partnerships like this one will help Egyptians build their economy.”

In the past ten years, USAID has generated more than 1,000 alliances with over 3,000 individual partners around the world, including local, regional, and multinational corporations like Microsoft, Coca-Cola, Siemens, and Western Union, leveraging an estimated $9 billion in private financing for global development objectives.  For each dollar USAID invests in partnership with the private sector, alliances leverage approximately $4 in cash and in-kind contributions to expand the impact of sustainable economic and social development initiatives.

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