Egypt- UK joint cooperation at PPP Leaders Forum

CAIRO – 6 December 2018: Minister of Finance Mohamed Maait and Minister of Transport Hisham Arafat joined British Ambassador in Egypt Geoffrey Adams and UK Trade Envoy Jeffrey Donaldson in welcoming the leading international infrastructure finance experts at the Public-Private Partnerships (PPP) Leaders Forum.

The forum aimed to identify the immediate actions required to kick start the Egyptian PPP program, demonstrate to the wider investment and development community that Egypt has considered the lessons learned from past experiences, and explore in more details project selection and best in class delivery of PPP projects to promote the program's success.

“I am proud Britain has played a significant role in supporting economic reform in Egypt. Britain has world-leading expertise in PPP, and as Egypt’s number one partner, we want to make it available here,” the British ambassador to Egypt said.

“We are proud to be sharing our skills and expertise with the Ministry of Finance to develop its PPP financing system. PPPs must be a catalyst for sustainable development,” the UK trade envoy stated.

Adding: “The UK has already worked to provide finance opportunities to Egyptian companies, technical assistance to the Ministry of Finance and capacity building to the Egyptian stock Exchange employees. We look forward to taking this cooperation to new heights.”

Tim Armsby, head of Finance and Projects for the Middle East at Pinsent Masons LLP said: "I have been working in Egypt since 2003 and was privileged to have the opportunity to assist the Egyptian Government on a number of PPPs over the last decade.”

Armsby further stated:” Egypt already has a considerable track record of attracting private sector investment in infrastructure and this forum should provide impetus for a re-launch to the international markets."

Industry experts of British companies Mott MacDonald, PwC and Pinsent Masons LLP are leading on the development of government strategies for the implementation of major infrastructure, including Public-Private Partnerships (PPPs), across the Middle East.

Other ministerial representatives attended the forum alongside guest speakers from EBRD, IFC, and Orascom.