Egypt has secured $38.8bm in development financing and grants over the past four years through partnerships with multilateral and bilateral development partners, the Ministry of International Cooperation told the House of Representatives’ Foreign Relations Committee on Tuesday. Of the total amount, $28.5bn was directed to various state sectors, while $10.3bn went to the private sector, covering areas such as climate action, development, and private sector empowerment. The Ministry highlighted its role in facilitating cooperation with the United Nations in Egypt, particularly through co-chairing the steering committee for the United Nations Sustainable Development Cooperation Framework. Additionally, the Ministry collaborates with development partners on technical support projects to enhance the capabilities and efficiency of Egyptian businesses. This program has facilitated financing and technical support for private sector projects aligned with Egypt’s National Climate Change Strategy 2050 and Nationally Determined Contributions.

Source: Daily News Egypt May 22, 2024 11:53 UTC