Egypt has mobilized $15.6 billion in development financing for the private sector from over 30 bilateral and multilateral development partners between January 2020 and May 2025, according to a new report released Sunday by the Ministry of Planning, Economic Development, and International Cooperation.
The announcement was made during the “Development Finance to Foster Private Sector-Led Growth & Jobs” conference in Cairo, held under the patronage of Prime Minister Mostafa Madbouly. The event convened government officials, international development institutions, and private sector representatives to review progress in concessional financing and public-private cooperation.
According to the ministry, concessional finance extended to private companies—both domestic and foreign—has grown steadily, reaching $1.14 billion in the first five months of 2025 alone. The European Bank for Reconstruction and Development (EBRD) accounted for 22% of total private sector development financing during the period, followed by the European Investment Bank (EIB) at 21% and the International Finance Corporation (IFC) at 19%.
Minister of Planning Rania Al-Mashat stated that development financing plays a central role in supporting Egypt’s private sector as a driver of growth and job creation. She highlighted that more than 40% of the concessional financing since 2020 has gone to banks and financial institutions serving private sector clients.
Al-Mashat also pointed to the government’s “NWFE” (Nexus of Water, Food, and Energy) platform, under which approximately $4 billion in financing has been secured for renewable energy projects totaling 4 GW of capacity.
The conference also witnessed the signing of three major energy-related agreements:
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A $600 million financial closure for the Obelisk solar project, including 1 GW of solar power and 200 MW of battery storage, led by Scatec (Norway).
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A power purchase agreement for the 900 MW Shadwan wind farm in Ras Shukeir, also developed by Scatec, with approximately $1 billion in foreign direct investment.
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A financing agreement between IFC and AMEA Power (UAE) to support Egypt’s first utility-scale battery storage system, linked to the Abydos solar project under NWFE’s energy pillar.
Mark Davis, EBRD’s Managing Director for the Southern and Eastern Mediterranean, described the Obelisk project as “a landmark transaction” supporting energy security and renewable expansion.
The Ministry also signed a cooperation agreement with the Federation of Egyptian Banks to expand the reach of Hafiz, a digital platform providing financial and technical services to private enterprises. The platform currently offers over 90 services and has attracted around 18,000 users.
Separately, the government signed a €21 million investment grant with the EIB to support a green industry program aimed at decarbonizing Egypt’s manufacturing sector.
Officials noted that Egypt will showcase its development finance and blended funding model at the Fourth International Conference on Financing for Development (FFD4) later this year in Seville, Spain.
