Minister of International Cooperation Rania Al-Mashat announced that Egypt has secured $2.1 billion in concessional financing for its private sector from international partners since the beginning of 2023, during a meeting with a US House Foreign Affairs Committee delegation.
Deputy Director of the USAID Mission in Egypt, Margaret Sancho, was also present at the meeting. Al-Mashat informed the delegation that institutions such as the IFC, EIB, and EBRD had extended concessional loans to the private sector.
She also praised the longstanding cooperation between Egypt and the US in development through USAID programs that support economic reforms, business competitiveness, and job skills in sectors such as agriculture, education, and healthcare. Al-Mashat mentioned that Egypt is currently negotiating new programs with USAID.
The government has made significant efforts in recent months to enhance private entrepreneurship, ensuring equal treatment between the public and private sectors, and improving the overall investment climate in the country.
In 2022, Egypt secured development financing worth $13.7 billion, of which $2.6 billion was allocated to the private sector to support national development objectives.
