Egypt signs deal to settle EGP 48.5 bln financing for 11 universities

Egypt signed an agreement on Sunday to settle 48.5 billion Egyptian pounds in financing for the construction of 11 state-owned national universities over the next three years, the Cabinet said.

Prime Minister Moustafa Madbouly oversaw the signing of a cooperation protocol between the ministries of finance, higher education, and planning.

The agreement is intended to address outstanding financial obligations linked to university construction projects while supporting the expansion of higher education capacity across the country.

Madbouly said resolving financial entanglement among ministries and state institutions remained a government priority and would help accelerate the implementation of strategic projects.

Finance Minister Ahmed Kouchouk said the settlement would support investment in higher education and ensure sustainable financing for university projects and related educational infrastructure.

The 11 national universities are expected to expand access to higher education and offer programmes aligned with labour market needs, while increasing educational capacity across Egypt’s governorates.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser