By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    Public Enterprise Minister discusses cooperation with Aluminium Bahrain
    Public Enterprise Minister discusses cooperation with Aluminium Bahrain
    May 28, 2023
    First Abu Dhabi Bank Egypt launches ‘Access’ portal for electronic payments
    First Abu Dhabi Bank Egypt launches ‘Access’ portal for electronic payments
    May 28, 2023
    Sorouh partners with RICON Construction to establish new projects with EGP 30bn investments
    Sorouh partners with RICON Construction to establish new projects with EGP 30bn investments
    May 28, 2023
    Egyptian property sales increase 7% in April: Aqarmap
    Egyptian property sales increase 7% in April: Aqarmap
    May 28, 2023
    Africa needs 10 million housing units annually to meet increasing demand:AFCCA
    Africa needs 10 million housing units annually to meet increasing demand:AFCCA
    May 28, 2023
  • Politics
    PoliticsShow More
    Irrigation Minister reviews preparations for upcoming Cairo Water Week
    Irrigation Minister reviews preparations for upcoming Cairo Water Week
    May 28, 2023
    Al-Sisi affirms Egypt's keenness on security, stability of Iraq
    Al-Sisi affirms Egypt’s keenness on security, stability of Iraq
    May 28, 2023
    Biden, Republican House Speaker reach ‘preliminary agreement’ on debt ceiling
    Biden, Republican House Speaker reach ‘preliminary agreement’ on debt ceiling
    May 28, 2023
    Erdoğan wins third presidential term in Turkey after tough run-off
    Erdoğan wins third presidential term in Turkey after tough run-off
    May 28, 2023
    Map of alliances affects second round of Turkish presidential election
    Map of alliances affects second round of Turkish presidential election
    May 28, 2023
  • Interviews
    InterviewsShow More
    I changed my artistic path to create ‘state of wonder’: Tarek Lotfi
    I changed my artistic path to create ‘state of wonder’: Tarek Lotfi
    May 25, 2023
    I adore Ramadan drama, ‘Telt Al-Talata’ series achieved great success: Ghada Abdel Razek
    I adore Ramadan drama, ‘Telt Al-Talata’ series achieved great success: Ghada Abdel Razek
    May 8, 2023
    We aim to establish Egypt as nearshore centre for Software AG for MET region: Rami Kichli
    We aim to establish Egypt as nearshore centre for Software AG for MET region: Rami Kichli
    April 29, 2023
    Egypt-Spain relations witness remarkable development in recent years: Spanish ambassador in Cairo
    Egypt-Spain relations witness remarkable development in recent years: Spanish ambassador in Cairo
    April 18, 2023
    "Al-Asly" series saw my first leading role in TV drama: Reham Abdel Ghafour
    “Al-Asly” series saw my first leading role in TV drama: Reham Abdel Ghafour
    April 16, 2023
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: Ministry of International Cooperation secured development financing of $10.2bn in 2021
Share
Notification
Latest News
Public Enterprise Minister discusses cooperation with Aluminium Bahrain
Public Enterprise Minister discusses cooperation with Aluminium Bahrain
Business
Irrigation Minister reviews preparations for upcoming Cairo Water Week
Irrigation Minister reviews preparations for upcoming Cairo Water Week
Politics Egypt
Al-Sisi affirms Egypt's keenness on security, stability of Iraq
Al-Sisi affirms Egypt’s keenness on security, stability of Iraq
Politics Egypt Region
Biden, Republican House Speaker reach ‘preliminary agreement’ on debt ceiling
Biden, Republican House Speaker reach ‘preliminary agreement’ on debt ceiling
Politics World
Erdoğan wins third presidential term in Turkey after tough run-off
Erdoğan wins third presidential term in Turkey after tough run-off
World Politics
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > Ministry of International Cooperation secured development financing of $10.2bn in 2021
Business

Ministry of International Cooperation secured development financing of $10.2bn in 2021

Daily News Egypt
Last updated: 2022/01/17 at 9:23 PM
By Daily News Egypt 4 Min Read
Share
SHARE

Minister of International Cooperation Rania Al-Mashat announced that Egypt’s total development financing in 2020 and 2021 amounts to $20bn, of which $9.8bn was secured in 2020 and $10.2bn in 2021.

This includes $8.7bn directed to public sector development and $1.57bn directed to private sector development. It also includes development financing grants of $476m, representing 5% of 2021’s total secured development financing. 

Al-Mashat’s remarks came during a press conference held on Monday to launch the Ministry of International Cooperation’s 2021 Annual Report titled ‘Engaging for Impact Towards Our Common Future: International Partnerships for Sustainable Development.’

The report detailed the development financing secured from bilateral and multilateral development partners and international financial institutions (IFIs) during 2021 and directed to various economic sectors across the economy. 

This comes within the framework of the ministry’s country-led multi-stakeholder engagement framework that is aiming to strengthen economic relations between Egypt, its bilateral and multilateral development partners, and international organisations, pushing forward Egypt’s 2030 Vision, which also aligns with the United Nations’ 2030 Sustainable Development Goals (SDGs).

The report showed that during 2021, the ministry secured development financing agreements to establish infrastructure across multiple sectors, including housing, water, irrigation, sanitation, transportation, electricity, renewable energy, agriculture, food security, and the environment. 

The development financing agreements directed to public sector development amount to $8.7bn, according to the report.

Furthermore, the report states that the development financing obtained from bilateral and multilateral development partners that has been directed to infrastructure projects amounts to $2.95bn. Through which, $1.14bn were allocated to five projects in the transportation sector, which is a high-priority sector for development in Egypt’s plan to achieve sustainable development.

The report revealed that the year 2021 also witnessed development financing agreements for the housing and utilities and local development sector worth $169m.

In advancing Egypt’s strategy to advance the green transformation towards new and renewable energy and working towards the achievement of the 2035 Integrated Sustainable Energy Strategy (ISES) in 2021, $1.04bn were secured in development financing directed to the sectors of energy, renewable energy, and petroleum from development partners.

The annual report has also shown that the Ministry secured $230m for the environment sector this year.

“The development financing secured through partnerships with multilateral and bilateral development partners in 2021, and in support of investing in human capital, amounts to $2.47bn, covering various sectors, including health, education, higher education, gender equality, small and medium enterprises (SMEs), and food security,” said the report.

In the agriculture, supply, and irrigation sector, $1.5bn in development financing was secured through cooperation with the International Islamic Trade Finance Corporation, the European Bank for Reconstruction and Development, the International Fund for Agricultural Development, and the European Union.

In terms of education and higher education, $134m were secured through cooperation with the African Development Bank, Germany, the US, and Japan, supporting the implementation of SDG 4: Quality Education; SDG 5: Gender Equality; SDG 8: Decent Work and Economic Growth; SDG 9: Industry, Innovation, and Infrastructure; and SDG 10: Reduced Inequalities.

You Might Also Like

Public Enterprise Minister discusses cooperation with Aluminium Bahrain

First Abu Dhabi Bank Egypt launches ‘Access’ portal for electronic payments

Sorouh partners with RICON Construction to establish new projects with EGP 30bn investments

Egyptian property sales increase 7% in April: Aqarmap

Africa needs 10 million housing units annually to meet increasing demand:AFCCA

TAGGED: development financing, Ministry of International Cooperation
Share this Article
Facebook Twitter Email Print
Previous Article Egypt’s President Al-Sisi meets with Algeria’s top diplomat
Next Article Average annual headline urban inflation recorded 5.2% during 2021: CBE
Ad image
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

Public Enterprise Minister discusses cooperation with Aluminium Bahrain
Public Enterprise Minister discusses cooperation with Aluminium Bahrain
Business
Irrigation Minister reviews preparations for upcoming Cairo Water Week
Irrigation Minister reviews preparations for upcoming Cairo Water Week
Politics Egypt
Al-Sisi affirms Egypt's keenness on security, stability of Iraq
Al-Sisi affirms Egypt’s keenness on security, stability of Iraq
Politics Egypt Region
Biden, Republican House Speaker reach ‘preliminary agreement’ on debt ceiling
Biden, Republican House Speaker reach ‘preliminary agreement’ on debt ceiling
Politics World
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?