Sherihan Bakheet, Deputy
Minister of International Cooperation, said that there is cooperation with the
European Investment Bank (EIB), worth 900 million euros, in the project to
implement the third line of the subway.
Bakheet added that there is
cooperation between Egypt and the European Bank for Reconstruction and
Development (EBRD) in the dry ports projects in 6th of October and the 10th of
Ramadan City.
This is in addition to the project to
establish the Benban solar power plant and many other projects, where the
outcome of cooperation with the private sector is about 76 percent.
This came at the international
conference organized by the Ministries of Planning and Finance on the
opportunities of alternative financing in Egypt towards sustainable financing
for development.
Bakheet added that the ministry is
leading coordination efforts with international financial institutions, about
more than 50 representatives from international financial institutions:
multilateral banks and officials of cooperation with countries at the bilateral
level.
Some specialized workshops have been
held in this regard to discuss revitalizing innovative and mixed financing
mechanisms, to finance the transformation towards a green economy, she said.
During her speech, Bakheet pointed to
the Egyptian government’s plan during the next three years to increase the
contribution of the private sector to the economy to 65 percent and to reduce
the public debt ratio of GDP to 75 percent.
Source: Egypt Independent
