Int'l coop. min. probes cooperation with UK's export credit agency

CAIRO - 13 March 2022: Minister of International Cooperation Rania Al-Mashat and Chief Executive of UK Export Finance (UKEF), the UK's export credit agency, Louis Taylor reviewed Saturday mutual cooperation aspects, global economic situation, and how it affects private investments.

 

During a meeting with the British official as part of her current visit in the UK, Mashat also discussed cooperation opportunities for fostering mutual cooperation to increase export credit activity for greater private sector engagement in development efforts.

 

The meeting also took up cooperation for implementing a ministry's initiative for better management of innovative financing to improve access to facilitated and blended finance to drive national economic development, stimulate private sector role in development projects, and minimize project financing risks.

 

The two sides have also probed cooperation for transitioning to green economy to build sustainable infrastructure, and secure development funds and grants for climate adaptation and mitigation projects.

 

Mashat said that the ministry's ongoing portfolio include 28 adaptation projects at about $2.8 billion, and 46 mitigation projects at $7.8 billion, including the Benban solar power park in the southernmost governorate of Aswan.