The Egyptian Ministry of Finance has entered into a $10.3 million (€10 million) agreement with the European Bank for Reconstruction and Development (EBRD) to launch the “Egypt Account”, a dedicated fund aimed at financing feasibility studies and consultancy services for public-private partnership (PPP) projects.
This initiative is designed to accelerate investment in key infrastructure sectors and enhance private sector participation in national development efforts, according to a cabinet statement released on February 5.
Accelerating PPP projects
Prime Minister Mostafa Madbouly noted that this agreement is a major step toward increasing private sector engagement, both locally and internationally, in public infrastructure and essential services. He highlighted that strengthening private sector involvement aligns with Egypt’s national development priorities, ensuring infrastructure projects are more efficient, sustainable, and high-quality.
Finance Minister Ahmed Kouchouk explained that the “Egypt Account” at the EBRD will be a crucial financial mechanism to attract and accelerate private investments in Egypt. The fund will enable the government to conduct feasibility studies and initiate project tenders simultaneously, thereby expediting the PPP process and opening multiple investment opportunities simultaneously.
One of the initiative’s key benefits is its ability to significantly reduce the approval timeline for feasibility study funding from development partners, cutting the process from one year to just two months. Additionally, it will facilitate rapid engagement with both local and international consultants, ensuring that contracts are finalized within six weeks, thereby streamlining the entire PPP development cycle.
Infrastructure development
In 2024, Egypt signed 10 PPP projects worth EGP 19.8 billion in sectors such as solid waste conversion, dry ports, sewage systems, transformer stations, electricity distribution networks, technical education, and strategic commodity warehouses, according to the statement.
Currently, nine more projects are under tender, with a total investment of $1.1 billion (EGP 53.9 billion), covering areas like transformer stations, water desalination plants, and sewage treatment. Another 10 projects, valued at around EGP 37 billion, are being prepared for tender, focusing primarily on electricity infrastructure.
These initiatives are part of Egypt’s long-term strategy to improve key sectors through private sector participation.
Since the enactment of the PPP law in 2010, Egypt has sought to bridge key infrastructure gaps in sectors such as agriculture, education, and transport. This strategic focus aligns with the government’s broader economic development objectives.
The ERBD has played a vital role in supporting Egypt’s development, investing $8.9 billion (€8.7 billion)in 145 projects since starting operations in the country a decade ago. The bank has allocated 76% of these funds to the private sector, in line with its strategy to foster a more inclusive economy, accelerate the transition to a green economy, and enhance Egypt’s competitiveness.
