Funding portfolio for projects in Egypt's civil aviation sector hits $225.7M

CAIRO – 13 October 2020: The funding portfolio provided by the Ministry of International Cooperation, from development partners, for projects in the civil aviation sector amounts to about $225.7 million, according to Ministry of International Cooperation.

Minister of International Cooperation, Rania Al-Mashat, and Minister of Civil Aviation Muhammad Manar, held a meeting Tuesday in the presence of Pilot Montaser Manna, Deputy Minister of Aviation, and Ms. Amani Metwally, Head of the Civil Aviation Support and Development Fund, to discuss cooperation with multilateral and bilateral development partners to support financing  projects in the civil aviation sector, and establish an investment zone in the vicinity of Cairo International Airport.

This comes within the framework of the Ministry of Civil Aviation's plan to develop the civil aviation system which was approved by the Egyptian state to upgrade this important facility and discuss aspects of joint cooperation with international partners through the Ministry of International Cooperation.

The minister affirmed that the aviation sector is one of the important sectors to support and develop the national economy, referring to the ministry’s mandate to coordinate between the Ministry of Aviation and all development partners to provide the required financing for development projects within the framework of the National Development Agenda 2030.

Al Mashat added that the role of the ministry of international cooperation is to strengthen economic diplomacy through three pillars: regularly organizing multistakeholder platforms to coordinate with all development partners, the Global Partnerships Narrative: People, Projects and Purpose to highlight the impact of international cooperation on Egypt’s development, and ODA SDG mapping to align all projects with the 17 Sustainable Development Goals.

For his part, Pilot Mohamed Manar, Minister of Civil Aviation, praised the role played by the ministry in coordinating with the Ministry of Aviation to facilitate its communication with development partners regarding development projects in the sector, adding that the Ministry of Aviation is keen to contribute in increasing investment in the country.