Egypt's Finance Minister, Ahmed Kouchouk, signed an agreement with the EBRD to establish the "Egypt Account", providing €10 million to fund feasibility studies and advisory services for PPP Central Unit projects, as per a Cabinet statement on Wednesday. The agreement aims to boost the involvement of local and foreign private sectors in infrastructure, utilities, and public services projects, aligning with Egypt's national priorities, stated Prime Minister, Moustafa Madbouly. Kouchouk stated that establishing Egypt Account at the EBRD would secure funding to attract private sector investments, both domestic and international, to Egypt, according to the statement. It would also expedite the involvement of consultants for PPP projects within six weeks, cutting down the time needed to secure feasibility study funding from development partners from one year to two months. The agreement also marks a significant step towards expanding Egypt's PPP projects, with 10 projects already signed in 2024 worth 19.8 billion Egyptian pounds, and 9 new projects worth 53.9 billion pounds under proposal. These projects span various sectors, including solid waste management, education, and electricity networks, among others. Attribution: Amwal Al Ghad English Subediting: M. S. Salama
