Egypt’s Minister of Finance, Ahmed Kouchouk, affirmed that the financial requirements to achieve sustainable development goals exceed the capabilities of governments alone, emphasizing the necessity of partnerships and strengthening the role of the private sector and all development partners.
He highlighted the crucial role of the private sector, not only in financing but also in operational efficiency, management, and ensuring the quality of services provided to citizens.
Kouchouk noted in a statement that the government is working on expanding public-private partnership (PPP) projects across all areas of sustainable urban development.
During his participation in a panel discussion at the World Urban Forum, the minister explained that Egypt is aiming to expand the development of local resources in governorates and increase the private sector’s involvement in project implementation to create more job opportunities.
“We are open to any innovative ideas that contribute to advanced management, enhance local revenues, and direct financial resources for the benefit of citizens,” Kouchouk said.
The minister also pointed out that "blended financing" and the use of "guarantees" are key tools that help reduce costs and provide good returns for the private sector, ensuring long-term sustainability.
He also noted that Egypt has established a green and sustainable financing framework that aligns with international standards and introduces new financing tools for the private sector.
Kouchouk emphasized that Egypt has successful models of public-private partnerships in fields like renewable energy, transportation, infrastructure, and human development. The country is set to expand these initiatives as part of its commitment to increasing the private sector's role in the economy.
The minister concluded by highlighting the Upper Egypt Development Project, funded in partnership with the World Bank, as an exemplary model for achieving localized development and promoting regional economic growth.
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