Major national infrastructure projects supported the Egyptian economy’s resilience in the face of the pandemic, alongside the growing participation of the private sector, said Minister of International Cooperation, Dr.Rania Al Mashat at a roundtable with the Movement of the Enterprises of France (MEDEF) as part of the Prime Minister’s visit to France.

At the roundtable, the minister highlighted several of Egypt’s projects towards a variety of sectors. The roundtable was attended by representatives from the MEDEF and the Egyptian French Business Council, as well as the Minister of Economic Development and Planning Dr.Hala El Said, with discussions on major projects in infrastructure development in Egypt.

She revealed that the Ministry of International Cooperation (MoIC) has more 140 projects in its ongoing portfolio, with development financing worth $18 billion in projects within the renewable energy, water, sewage, transportation, roads and industry sectors.

Al Mashat highlighted the government’s belief in the importance of private sector participation as a key partner in achieving sustainable and inclusive development. The MoIC directed 31% of total development funding from multilateral development partners towards the private sector in 2020, she added.

Sustainable infrastructure and innovation are central to achieving sustainable development and improving livelihoods for citizens, Al Mashat emphasized.

She highlighted Egypt’s state and political leadership’s efforts over the past 5 years in developing the country's infrastructure, which have had a direct impact on improving the lives of Egyptians, diversifying sources of growth, enhancing the business environment for the private sector to allow it in actively participating in development efforts, and improving the sustainability of the Egyptian economy.

Currently, Egypt’s development finance portfolio is worth around $25 billion distributed to 377 projects, including the $18 billion directed towards the development of infrastructure. Around $5.7 billion, or 22.3%, of the total development funds is distributed towards around 36 projects focused on SDG goal 9, which encompasses three important aspects of sustainable development: infrastructure, industrialization and innovation.

The Egyptian state continues to implement major national reforms and projects to develop infrastructure to unleash the potential of the Egyptian economy, enhance its competitiveness, create jobs and create an environment suitable for business community, investors and develop the economic environment, the minister explained.