The Ministry of International Cooperation revealed this week the results of the 2017-2022 country strategy, through which national agencies worked in cooperation with the European Bank for Reconstruction and Development (EBRD) to advance development efforts in Egypt in all sectors.
This is in conjunction with the approval of the Board of Directors of the EBRD of Egypt’s 2022-2027 strategy.
The common 2017-2022 country strategy worked to enhance development efforts through 4 axes; the first axis was to support the competitiveness of the private sector in Egypt by strengthening value chains.
The second was to improve the quality and sustainability of public utilities and infrastructure through the participation of the private sector.
The third axis was to support the transition towards a green economy, and the fourth axis was to strengthen governance and competitive frameworks among companies.
The ministry announced in a press statement that the development funds provided by the EBRD to the public and private sectors during the previous strategy amounted to about €4.9bn within the framework of joint development efforts and support for the state’s 2030 Vision, and to promote the transformation towards a green economy that is inclusive and sustainable.
The results of the strategy revealed that the first axis related to the private sector and enhancing competitiveness accounted for 52.5% of the funds, while the second axis acquired 22.1%, and the third axis came after that, comprising 25.4%. Information regarding the fourth axis was not disclosed.