Egypt looks forward to US Export-Import Bank providing low-cost finance for green projects: Finance Minister

Hossam Mounir
3 Min Read

Mohamed Maait, Minister of Finance, stressed that Egypt has become more attractive to investments with promising development opportunities, based on a supportive and strong infrastructure, which has become more able to absorb the expansion of economic activities.

He pointed out that Egypt looks forward to the bank providing low-cost financing for green projects in a way that contributes to strengthening the structure of the national economy and laying the foundations for a decent life for citizens.

Maait added that Egypt directed $400bn to infrastructure development projects during the past seven years, explaining that the economic recovery plan includes a package of measures stimulating foreign and local investments, especially the private sector, as the state adopts a national strategy aimed at maximizing the private sector’s role in economic activity. This represents a “message of reassurance” for local investors and an element of attraction for foreign investments, and enhances the confidence of international institutions.

In his meeting with representatives of the American Export-Import Bank, Maait said that the Bank can play a pivotal role in promoting economic and trade cooperation between the two countries; to achieve the interests of the two friendly peoples; in line with the close historical relations between Egypt and the United States of America. He pointed out that Egypt looks forward to deepening joint cooperation in financing development projects in various sectors, as well as small and medium projects, and supporting the role of the private sector in the comprehensive and sustainable development process that Egypt is witnessing, and maximizing its contributions to economic activity, including It helps provide job opportunities and improve the lives of citizens.

The meeting was attended by Rania Al-Mashat, Minister of International Cooperation, and Ahmed Kochouk, Deputy Minister of Finance. It comes on the sidelines of the Spring Meetings of the International Monetary Fund and the World Bank.

Maait called on representatives of the US Export-Import Bank to take advantage of investment opportunities, especially in the sectors of energy, petrochemicals, water desalination, medicine, communications, information technology, iron and steel, and transportation.

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