Cairo: The Egyptian Ministry of Finance has entered into a pound 10 million agreement with the European Bank for Reconstruction and Development (EBRD) to launch the “Egypt Account”, a dedicated fund aimed at financing feasibility studies and consultancy services for public-private partnership (PPP) projects. This initiative is designed to accelerate investment in key infrastructure sectors and enhance private sector participation in national development efforts.
According to State Information Service Egypt, Prime Minister Mostafa Madbouly emphasized that this agreement is a major step toward increasing private sector engagement, both locally and internationally, in public infrastructure and essential services. He highlighted that strengthening private sector involvement aligns with Egypt’s national development priorities, ensuring that infrastructure projects are more efficient, sustainable, and high-quality.
Finance Minister Ahmed Kouchouk explained that the “Egypt Account” at the EBRD will act as a crucial financial mechanism to attract and accelerate private investments in Egypt. The fund will enable the government to conduct feasibility studies and initiate project tenders simultaneously, thereby expediting the PPP process and opening multiple investment opportunities at the same time.
One of the initiative’s key benefits is its ability to significantly reduce the approval timeline for feasibility study funding from development partners, cutting the process from one year to just two months. Additionally, it will facilitate rapid engagement with both local and international consultants, ensuring that contracts are finalized within six weeks, thereby streamlining the entire PPP development cycle.
Minister Kouchouk commended the Central PPP Unit and the EBRD for their efforts in making this initiative a reality. He stressed that expanding the PPP model is vital for Egypt’s economic strategy, as it will help diversify funding sources, encourage private investment, and drive sustainable infrastructure growth.
In 2024, Egypt successfully signed 10 PPP agreements, securing a total investment of EGP 19.8 billion. These projects spanned multiple sectors, including solid waste management, dry ports, wastewater treatment, transformer stations, electricity distribution networks, technical education, and strategic goods storage facilities.
Currently, nine additional projects are in the tendering phase, with a combined investment value of EGP 53.9 billion. These include developments in electricity infrastructure, water desalination, wastewater treatment, technical and language schools, and service centers.
Beyond this, ten more projects are being prepared for tender and await final approval from the High Committee for PPP Affairs. These projects, valued at EGP 37 billion, focus on transformer stations, electricity distribution networks, and industrial wastewater treatment.
The launch of the “Egypt Account” is expected to accelerate the execution of large-scale PPP projects while enhancing the attractiveness of Egypt’s investment climate. By facilitating private sector participation and streamlining financial procedures, the initiative is set to play a pivotal role in modernizing Egypt’s infrastructure and driving long-term economic growth.