Egypt’s PPPCU wins two global awards for private sector growth
Egypt’s Public-Private Partnership Central Unit (PPPCU) has won two international awards from the World Association of PPP Units & Professionals (WAPPP) and the 9th International PPP Week Conference, both UN-affiliated, the Ministry of Finance reported on Wednesday.
The awards acknowledge the unit’s role in signing the Egypt Projects Preparation Facility (EPPF) agreement between the Ministry of Finance and the European Bank for Reconstruction and Development (EBRD) to enhance private sector growth in Egypt’s PPP projects.
Head of the PPPCU, Atter Hannoura, confirmed that the recent initiative between Egypt and the EBRD is a unique Egyptian innovation that provides innovative solutions to challenges in public-private sector engagement. International organisations specialising in such projects have praised the initiative and recommended its replication in other countries.
The agreement establishes a €10 million joint fund, with Egypt contributing €1 million in Egyptian pounds and the EBRD, alongside other international development banks and donors, providing the remaining €9 million.
The fund, managed by EBRD, aims to support private sector participation in infrastructure projects by expediting financing for feasibility studies and appointing advisors for public-private partnership projects within two months. Additional international development banks are interested in joining and financing the EPPF.
He highlighted that the 9th PPP Week Conference in Istanbul provides a valuable platform for 50 countries to discuss the future of the public-private partnership model in line with the UN’s social development goals and sustainability efforts. The conference also addresses innovative project financing, climate resilience, disaster risk management, future-proof cities, and globally recognised implementation examples.
Attribution: Amwal Al Ghad English
Subediting: M. S. Salama
AfDB 2023