Switzerland and the Ministry of International Cooperation (MOIC) have signed two grants worth $19 million to support the Ministry of Housing, Utilities, and Urban Communities in implementing two projects in Egypt.
The first project is the second phase of the drinking water management program in Upper Egypt, while the second project is the sludge management program in Beni Suef.
These grants are part of a broader joint development cooperation program between Egypt and Switzerland that will run from 2021 to 2024. The program aims to promote private sector involvement in development initiatives and transform various sectors, such as water, sanitation, and green transformation.
The total budget allocated for this program is approximately $94 million. In September 2023, the Minister of MoIC, Rania Al-Mashat, held a meeting with the Swiss State Secretary for Economic Affairs, Helene Budliger, in Sharm El-Sheikh to explore opportunities for enhancing collaboration between the two nations. Al-Mashat also discussed preparations for the joint cooperation program between the two countries for the period from 2025 to 2028 with the Swiss Ambassador to Egypt, Yvonne Baumann.
Minister of Trade and Industry, Ahmed Samir, highlighted the significance of Switzerland’s investments in Egypt, noting that Switzerland ranked 15th among the most important countries investing in Egypt. These investments amount to nearly $2.2 billion, spread across 433 projects. In addition, the volume of trade between Egypt and Switzerland increased by 7.8 percent, reaching $1.52 billion in 2022 from approximately $1.41 billion in 2021, as stated by Minister Samir.
