EIB, IFC sign technical support deal for Egypt’s Abu Tartour mining port

Egypt signed Sunday the technical support agreement with the European Investment Bank (EIB) to develop Abu Tartour mining port, 5km south of Safaga port in Red Sea.

Egyptian Deputy Finance Minister for Monetary Policy Ahmed Kojak has signed the agreement with Dario Scannapieco, Vice-President of EIB, and Muneer Ferozie, International Finance Corporation’s Regional Head of PPP, Privatisation, and Infrastructure Financial Advisory for Middle East, North Africa, and Pakistan.

Egyptian Prime Minister Sherif Ismail and Minister of Finance Amr el-Garhy have attended the signing ceremony.

Egyptian government has embarked on a major programme to expand and improve its public infrastructure through Public-Private Partnerships (PPP). As part of this programme, the PPP Central Unit of the Ministry of Finance (PPPCU) – in coordination with the Ministry of Foreign Trade and Industry – plans to develop the Abu Tartour Mining Port (ATP) as the first mining and industrial port in Egypt through private sector participation.