Minister of Transport Kamel El Wazir asserted that Egypt’s success in implementing strategic projects and its great achievements in the various transport sectors over the past phase amounted to EGP 2 trillions from June, 2014, till June 2024, in addition to establishing the new Suez Canal to allow ships’ transit in both ways and decrease the passage time to 11 hours only.
Addressing the 2nd Dakar Financing Summit for Africa’s Infrastructure Development (DFS-2) on Thursday 2/2/2023, Wazir pointed out to the regional and continental projects such as the Cairo-Cape Town Road, Egypt/Chad Road passing through Sudan, the railway line with Sudan, the navigational line between Lake Victoria and the Mediterranean Sea (VICMED) and the upgrade of Matrouh/Saloum railway line to extend to Libya’s Benighazi and increase the volume of trade exchange along with other logistic projects to serve neighboring countries.
He reviewed Egypt’s expertise to provide the necessary fund for such projects in cooperation with development partners from friendly countries as well as the international financial institutions including the World Bank, the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD), among others.
The minister asserted the importance of the government and private sectors in partnership with foreign parties to implement strategic projects along with partnership projects between the State and the Egyptian private sector.
He also briefed attendees on the transport sector’s role in the green transition, the use of clean energy to reduce carbon emissions as well as Egypt’s hosting of the UN Climate Conference (COP27) and its positive outcome and plan of action, in addition to the establishment of environment risks management fund.
Wazir also tackled Egypt’s efforts to fund VICMED and the fund of its feasibility studies with dlrs 500,000 along with coordination with the African Development Bank (AfDB) to fund the first phase of the studies with dlrs 650,000, noting that an agreement is soon about to be finalized between Egypt and AfDB to provide dlrs 2 million to fund the second phase of the feasibility studies of the project.
He also said the mega projects which have been carried out in Egypt since 2014 and the specialized companies which have overseen the implementation are fully ready to help the African brethren in implement all infrastructure projects under the supervision of the Egyptian consultative offices.
The session was attended by Uganda finance minister, Djibouti minister of economy and finance, Comoros minister of infrastructure as well as a galaxy of African ministers and officials.
Source: State Information Service Egypt