17-04-2025
Egypt's Private Sector Leads Record LE 9.6 Billion Development Financing Push in 2024
CAIRO – 18 April 2025: Egypt achieved a significant milestone in 2024, with development financing for the private sector reaching LE 4.2 billion—the highest level in five years—according to the Ministry of Planning, Economic Development, and International Cooperation's Annual Report titled 'Macroeconomic Stability, Structural Reforms, and Economic Diplomacy to Advance Sustainable Economic Development.'
The report reveals that total development financing amounted to LE 9.6 billion, with the government sector securing LE 3.2 billion, including LE 1.8 billion in budget support and LE 300 million in grants. This reflects Egypt's ongoing efforts to diversify funding sources and strengthen sustainable development pathways.
Notably, for the first time, private sector financing outpaced government funding, marking a strategic shift in Egypt's economic approach. Minister Rania Al-Mashat underscored the Ministry's commitment to transparency and inclusivity, with the report serving as a vital tool for informing citizens and international development partners.
Egypt's growing international footprint was also evident in 2024 through active participation in global platforms such as BRICS Plus, D-8, and G20 summits, along with diplomatic visits to the EU, World Bank, Japan, and Italy.
The report outlines the Ministry's leadership in implementing the National Structural Reform Program, with notable progress in critical sectors including industry, agriculture, ICT, labor, and technical education. The program aims to build a competitive, inclusive, and green economy.
A highlight of the year was the launch of the Ministerial Group for Entrepreneurship, led by Al-Mashat, aimed at enhancing the startup ecosystem through regulatory reforms and innovation-driven policies. Initiatives like the HAFIZ platform also reflect the Ministry's continued push to empower the private sector with access to advisory services, finance, and investment support.
The report also documents Egypt's growing commitment to climate action, green transition strategies, and human capital development—foundations for a more resilient and sustainable economic future.
