Egyptian-international partnership to finance the future... World Bank backs new mechanism to develop infrastructure and strengthen the private sector’s role

Egypt’s Minister of Planning, Economic Development and International Cooperation discussed with World Bank representatives the latest developments in implementing a guarantee mechanism for financing infrastructure projects, as part of a government drive to boost long-term investments and expand private sector participation.

The minister stressed that the mechanism’s roadmap is based on achieving a careful balance in managing the risks associated with the targeted projects, noting that coordination is continuing with the relevant authorities to draw up the list of projects to be included in the financing guarantee program.

He explained that the new mechanism would help provide sustainable sources of local-currency financing for infrastructure projects, easing pressure on the state budget and reducing reliance on external borrowing and sovereign guarantees.

He added that the electricity sector represents a successful model of institutional cooperation and innovative financing partnerships, noting that strengthening modern financing tools opens the way to attracting more private sector investment and supporting the implementation of the goals of Egypt Vision 2030.