CAIRO – 1 June 2024: Minister of International Cooperation (MoIC), Rania Al-Mashat, a high-level round table took place, involving development partners and international institutions, to introduce investment guarantees amounting to €1.8 billion.
This funding was provided by the European Union as part of a larger financing package of €7.4 billion allocated to Egypt.
The purpose of these guarantees is to attract foreign direct investment valued at €11 billion in priority sectors, as stated by Minister Al-Mashat.
The availability of these guarantees will be facilitated through European financial institutions and other international financial institutions.
Minister Al-Mashat stressed the significance of fostering collaboration among development partners and leveraging the wide range of tools offered by international institutions to strengthen and empower the private sector.
This collaborative approach aims to expand opportunities for foreign direct investments and support the government's efforts to enhance private sector participation in various areas of development.
In recent developments, Prime Minister Mostafa Madbouly witnessed the signing ceremony of four financing agreements worth €300 million, funded by grants from the European Union.
Additionally, Egypt signed agreements valued at $33 billion for four green ammonia projects during the second day of the Egypt-EU Investment Conference, highlighting the increasing number of such projects in the Suez Canal Economic Zone (SCZone).
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