Egypt has received requests from the largest three global financial institutions to participate in financing and constructing public projects through public-private-partnership (PPP), Finance Minister Hany Qadry Dimian said in a statement on Monday.
The institutions are the International Finance Corporation (IFC), the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB), Dimian explained.
"The interest of these institution-funded projects with the participation of the private sector PPP reflects the growing confidence in the Egyptian economy and the ability of the Egyptian government to preserve the rights of investors and funding bodies," the minister added.
The minister disclosed that the Finance Ministry has received an offer from EBRD, for the purchase of shares and stakes in the Egyptian Company, which holds the Spanish and the establishment and operation of the sewage plant in New Cairo, which has already begun to work about a year ago.
In a related context, Head of Central Unit of PPP Atr Hanorh, announced that the Finance Ministry has completed the contract with IFC to provide financial consulting for the construction of technological zone in Maadi, south of Cairo, under the Communications Ministry, to be put to investors next month. The statement did not clarify what projects will the EIB target.
A major economic summit aimed at encouraging international investment in Egypt will be held on 21 February in the resort town of Sharm El-Sheikh, Supply Minister Khaled Hanafy said.
Egyptian government plans to present projects by PPP worth US$100 billion to international investors at the event, Hanafy added.
