Egypt secures $13.7bln in development financing in 2022 – minister

Egypt has secured $13.7 billion in 2022 to support its national development objectives, said Minister of International Cooperation Rania al-Mashat in an official statement on Monday.

This included $11.1 billion directed to sovereign projects included $2.4 billion for budget support to be disbursed by June 2023 across various economic activities, including food security, universal health insurance and social protection programmes.

While, the $2.6 billion has secured for the private sector through many development partners such as; International Finance Corporation (IFC), Agence Française de Développement (AFD), European Union (EU) and many others.

These remarks came during the Minister’s participation in the Challenges Facing the Global Economy within the activities of the People and Banks Conference organised by the Arab Media Association.

The Ministry of International Cooperation has secured development financing agreements in 2020 worth $9.8 billion, including $3.5 billion for the private sector, the statement added.


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