Egypt’s private sector secures $2.1bln loans in 2023: Al-Mashat

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The minister’s announcement came during her meeting with a delegation of representatives of the US House Foreign Affairs Committee

Staff Writer, Arab Finance

August 14, 2023

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The Egyptian private sector has secured around $2.1 billion in concessional loans in 2023 from development partners, in addition to financing worth $7.3 billion in the 2020-2022 period, Minister of International Cooperation Rania Al-Mashat stated on August 13th.

The loans include investments, contributions, credit lines, and development financing provided to all kinds of private companies, the minister noted.

The minister’s announcement came during her meeting with a delegation of representatives of the US House Foreign Affairs Committee.

Furthermore, she expressed the country’s keenness to boost cooperation with the US International Development Finance Corporation (DFC) to lure further investments for private projects in Egypt.

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