Egypt receives $1.9B in financing from development partners for private sector in H1 of 2021

egypt private sector development financing
Egypt
  • Date: 01-Jul-2021
  • Source: Egypt Today
  • Sector: Economy
  • Country: Egypt
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Egypt receives $1.9B in financing from development partners for private sector in H1 of 2021

CAIRO – 30 June 2021: The first half of 2021 witnessed multilateral and bilateral development partners financing private sector projects worth $1.9 billion, including $300 million in the energy and environment sectors, according to Minister of International Cooperation, Rania Al-Mashat, said. During her participation in the signing of the first green bond issuance for the private sector, the minister added that the International Finance Corporation is Egypt's main partner in financing directed to the private sector, with a value of $1.2 billion in various development sectors, infrastructure, education, health, mining, in addition to financial markets. During her speech at the signing ceremony for the issuance of the first green bonds for the private sector in the local market, at a value of $100 million, the Minister of International Cooperation explained that this first issuance would contribute to the growth of investments in this field significantly in order to achieve the requirements of green development. Al-Mashat stressed the importance of this issuance, as it is the first participation of the private sector in this rapidly growing global market, which is estimated at more than one trillion dollars. She pointed out that the market for investment products aimed at sustainable development

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