Egypt s Minister of International Cooperation Rania Al-Mashat. Al-Ahram
The Ministry of International Cooperation noted that the ministry is working on updating and developing strategies for international cooperation and development financing with many development partners for the next three to five years.
The report shows that The OPEC Fund for International Development was the top institution that provided this amount, with a value of $1.21 billion.
The European Bank of Reconstruction and Development (EBRD) followed with $558 million, while the International Finance Corporation (IFC) provided $233 million.
The Japanese International Cooperation Agency (JICA) and the Mitsubishi Financial Group contributed $200 million, and the European Investment Bank (EIB) gave $170 million.
Additionally, the French Development Agency provided $159 million, while the World Bank Group (WBG), the African Development Bank (AfDB) and the European Union (EU) contributed $50 million, $21.5 million and $15 million, respectively.
Egypt is currently adopting the State Ownership Policy that charts a map of increasing the private sector share in the local economic activity to 65 percent, up from 30 percent.
Moreover, Egypt has made a clear commitment – under its $3 billion loan deal with the International Monetary Fund – to unlock the potential of the private sector through expanding in state-owned assets sales whether under the government’s IPO programme or through offering them to strategic investors.