The Egyptian government and the Ministry of Finance signed two separate agreements with the European Bank for Reconstruction and Development (EBRD) on Wednesday to stimulate private sector growth. Egypt's Prime Minister Mostafa Madbouly attended the signing ceremony. The Ministry of Finance's agreement establishes a €10m Egypt Feasibility Study Fund. This fund, an initiative of the ministry's Central Unit for Public-Private Partnership (CUPPP), will finance feasibility studies and advisory services for public-private partnership (PPP) projects. It aims to expedite project development by reducing the approval time for feasibility study funding from one year to two months. The Egyptian government's memorandum of understanding (MoU) with the EBRD strengthens cooperation and expands the scope of PPPs. It outlines a framework for EBRD technical support, including institutional support, capacity building, and assistance for developing and implementing PPP projects in sectors such as transport, ports, healthcare, electricity, water treatment, and desalination. Minister of Finance Ahmed Kouchouk and Mark Davis, EBRD Regional Director for the Southern and Eastern Mediterranean, signed the Egypt Feasibility Study Fund agreement. Minister of Planning and Economic Development Rania Al-Mashat and Davis signed the MoU. Prime Minister Madbouly said the agreements will maximise Egyptian and foreign private sector participation in infrastructure, utilities, and public service projects, aligning with national priorities. He highlighted the MoU's framework for EBRD technical support to enhance institutional capacity, build stakeholders' capabilities, and provide assistance for developing and implementing PPP projects. Kouchouk said the Egypt Feasibility Study Fund will encourage private investment by enabling simultaneous study and tendering of multiple PPP projects. It streamlines the contracting process with consultants, ensuring contracts are finalised within six weeks. He thanked the CUPPP and the EBRD for their collaboration and emphasised the fund's importance in securing development finance, broadening PPPs, and enhancing the private sector's role in achieving sustainable growth. Kouchouk highlighted recent progress, noting that 10 PPP projects worth EGP 19.8 billion were signed in 2027 in sectors including solid waste management, dry ports, sanitation, transformer stations, electricity distribution, technical education, and strategic commodity warehouses. Nine new projects worth EGP 53.9bn are being tendered in sectors including transformer stations, electricity distribution, water desalination, wastewater treatment, technical and language schools, and service centres. Ten more projects worth EGP 37bn are under preparation, pending approval from the Supreme Committee for Public-Private Partnership, in sectors such as transformer stations, electricity distribution, and industrial wastewater treatment. Al-Mashat said her ministry has focused on economic diplomacy and partnerships with international institutions and multilateral development banks since 2020 to advance national development priorities and expand PPPs. She noted the EBRD is a key financier of Egypt's private sector and said the ministry is implementing the 2022-2027 joint country strategy, prioritising competitiveness, growth, and private sector engagement. She said the EBRD invested €1.5bn in 26 projects in Egypt during 2024, 98% of which went to the private sector. She also highlighted the bank's role in mobilising $3.2bn for private sector renewable energy projects under the "NWFE" programme. These efforts complement Egypt'snational structural reform programme, which aims to improve the business environment and enhance private sectorpartnerships.
