Arab Finance: The Egyptian government is seeking to increase the volume and amount of multilateral concessional financing secured from development banks, international institutions, and bilateral partners, Minister of Finance Ahmed Kouchouk stated.

This came during Kouchouk’s first participation in the BRICS ministerial meetings in Moscow, Russia.

Kouchouk also called for boosting blended financing to promote cross-border partnerships between the public and private sectors.

Moreover, he expressed the government’s intention to direct development funding to develop the country’s infrastructure and meet social needs, particularly in the health and education sectors.

He added that the country targets a gradual decrease in external debt and partially converting it into investments.

The state is also keen to diversify sources, tools, markets, and currencies of financing to cut the debt-to-GDP ratios, Kouchouk said.

Furthermore, Egypt seeks to attract further private investments in productive sectors, export activities, and infrastructure and technology projects, the minister highlighted.

 

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