CDC’s development financing portfolio in Egypt amounts to €440 m

gypt shares strategic relations with the United Kingdom, where the UK’s Development Finance Institution, CDC has been supporting the private sector since 2003, as the CDC’s development financing portfolio in Egypt amounts to €440m, allocated to about 39 companies, according to Ministry of International Cooperation. 

It has also contributed to providing more than 30,000 jobs, across different sectors, including sectors of new and renewable energy, and health.

The CDC has worked for over 70 years in promoting sustainable long-term growth of companies in Africa and South Asia, as its investments portfolio amounts to $9.3 bn directed to more than 1,200 companies in emerging economies.

 The press statement was issued as the Minister of International Cooperation Rania Al-Mashat, virtually met with the Chairperson of the UK’s Development Finance Institution, CDC, Graham Wrigley; the CDC’s Chief Executive Officer (CEO), Nick O’Donohoe; and the CDC’s Coverage Director of Egypt, Sherine Shohdy. This meeting aims to identify future areas of cooperation that come within the framework of supporting Egypt’s development efforts, to further enhance the private sector’s engagement; and to achieve Egypt’s Vision 2030, which aligns with the United Nations Sustainable Development Goals (SDGs). 

During the meeting, Al-Mashat reviewed the Government of Egypt’s efforts in achieving sustainable development; stressing its commitment to achieving development across all sectors. She added that the structural and economic reforms being implemented are to ensure the sustainability of development efforts.