Egypt secures $13.7B to support national development objectives
$13.7 billion was secured in 2022 to support Egypt’s national development objectives, Minister of International Cooperation Rania A. Al-Mashat announced.
This included $11.1 billion directed to sovereign projects across various economic activities and $2.6 billion for the private sector.
Al-Mashat explained that the $11 billion included $2.4 billion for budget support to be disbursed by June 2023 and directed to expanding social spending including food security, universal health insurance, and social protection programs.
The Minister also underscores that the $2.6 billion financing to the private sector was secured through cooperation with many development partners, including International Finance Corporation (IFC), Agence Française de Développement (AFD), European Union (EU) and many others.