BAKU, Azerbaijan, September 15. The European Bank for Reconstruction and Development (EBRD), in partnership with Egypt’s Ministry of Finance and supported by the Ministry of Planning, Economic Development and International Cooperation, has launched the 10 million euro Egypt Project Preparation Facility (EPPF), Trend reports.
The facility aims to streamline and support the preparation of public-private partnership (PPP) projects across the country, particularly in green and sustainable infrastructure sectors such as utilities, energy, and transport. Its goal is to bring bankable projects to market and increase private-sector participation.
“This facility represents a significant step towards mobilising private-sector investment for the delivery of green and sustainable infrastructure in Egypt,” said Aida Sitdikova, EBRD Director for the Middle East and Africa. “It is a clear demonstration of Egypt’s commitment to advancing PPPs, and we at the EBRD are proud to support this important initiative.”
The launch ceremony, held in Egypt, was attended by EBRD Managing Director Mark Davis, Finance Minister Ahmed Kouchouk, and Minister of Planning Rania al-Mashat. The agreement for the EPPF was signed earlier this year in the presence of Egyptian Prime Minister Mostafa Madbouly.
The facility also receives backing from the Republic of Korea, the Netherlands, and Spain under the High-Impact Partnership on Climate Action (HIPCA). Since 2012, Egypt has been a founding member of the EBRD, with the bank investing over 13.5 billion euros in 206 projects across the country.