Egypt provided $ 9.8B in financing for development projects during 2020

SourceEgypt Today
SectorFinancial Markets

Minister of International Cooperation Rania Al-Mashat - Press Photo CAIRO – 11 February 2021: Egypt succeeded in securing $ 9.8 billion in 2020 through economic diplomacy to finance development, Minister of International Cooperation Rania Al-Mashat said Thursday.   Al-Mashat clarified that $ 6.7 billion out of the funding was secured to finance sovereign projects and $ 3.1 billion was to support the private sector.   The Minister of International Cooperation said that Egypt has a variety of projects across the United Nations agencies and this is all beneficial to the Egyptian economy, as there are many cases in which the United Nations has cited some projects in Egypt and the state wants to see more of that.   This came during Al-Mashat’s virtual meeting with the newly appointed United Nations Resident Coordinator in Egypt, Elena Banova, where they discussed preparatory steps for the next phase of continuous cooperation between Egypt and the United Nations.   Al-Mashat explained that both Egypt and the United Nations can - together - do more...