Latest news with #Rania Al-Mashat
Zawya
a day ago
- Automotive
- Zawya
Egypt's private sector attracts $6.9bln investments from 1,600 German companies: Al-Mashat
Arab Finance: Around 1,600 German companies operating in Egypt have injected a total investment worth over €6 billion into the country's private sector, mainly the energy, green transition, and industrial development sectors, Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat announced. On top of these companies are Siemens, Mercedes-Benz, Duravit, and Bosch, Al-Mashat affirmed, noting that trade exchange between Egypt and Germany hit about €66.8 billion. Her remarks were made during a meeting in New Alamein City with Reem Alabali-Radovan, Federal Minister for Economic Cooperation and Development of Germany, following the fruitful discussions held at the 4th International Conference on Financing for Development (Ff4D) in Seville, Spain. The minister mentioned that the government, in cooperation with Germany, is mulling over boosting development financing for the private sector via German financing institutions. The government is also seeking to launch a platform similar to NWFE's to attract international partnerships in the industrial development sector. Commenting on the Egyptian-German Debt Swap Program, Al-Mashat stated that it is valued at a total of €340 million, including a new tranche worth €100 million to be activated by the end of this year and mid-2026. She indicated that the program contributed to financing various projects in the fields of technical education, health, climate action, applied technology schools expansion, and water and sanitation projects. The official also addressed the financial cooperation agreement (FCA) between Egypt and Germany, which was signed on May 25th, 2025. the agreement includes financing packages at a value of €118 million, provided as concessional loans and development grants. Al-Mashat also referred to the remarkable recovery in Egypt's economic growth indicators in the first nine months of fiscal year (FY) 2024/2025. She noted that the state is working on reinforcing economic stability to draw in further foreign investments. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
a day ago
- Business
- Zawya
Egypt to prepare investment package for U.S. companies, says PM
Egyptian Prime Minister Mostafa Madbouly has directed his government to prepare a package of investment opportunities to be presented to U.S. companies, as part of efforts to strengthen economic cooperation between the two countries. The directive came during a meeting on Sunday to follow up on efforts to enhance Egypt-U.S. economic ties, according to a cabinet statement. Madbouly stressed the government's interest in bolstering the strategic and historical ties between the two nations and its keenness to overcome any obstacles to joint cooperation. He noted that there are many promising opportunities available for American companies, given the significant incentives the Egyptian government offers to foreign investors. The meeting was attended by the ministers of planning, foreign affairs, and investment, while the minister of industry and transport participated via video conference. Minister of Industry and Transport, Kamel al-Wazir, reviewed investment opportunities that have been presented to U.S. companies in sectors including ports, maritime transport, and industrial zones. Minister of Planning and Economic Cooperation, Rania Al-Mashat, discussed development cooperation with the United States, including projects funded through the U.S. Agency for International Development (USAID). Foreign Minister Badr Abdel-Aty and Minister of Investment and Foreign Trade Hassan El-Khatib also reviewed their respective ministries' efforts to support bilateral ties, trade, and U.S. investment in Egypt. At the conclusion of the meeting, Madbouly instructed all relevant authorities to coordinate on preparing the set of promising investment opportunities and to follow up on presenting them to American companies to enhance U.S. investments in Egypt.
Zawya
5 days ago
- Business
- Zawya
Egypt outlines roadmap to advance green transition via CBMA policy
Arab Finance: The Egyptian government rolled out plans to develop a roadmap for implementing the Carbon Border Adjustment Mechanism (CBAM) policy to advance its green transition, according to a statement. Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel El-Wazir and Minister of Planning and Economic Development, and International Cooperation Rania Al-Mashat discussed joint efforts to support transition to low-emission industries. This goal will be achieved through financing and technical programs in cooperation with international development partners. The two sides reviewed the latest developments in implementing the Green Sustainable Industries (GSI) program, which provides various financing options, including soft loans and non-refundable grants, to rehabilitate Egyptian factories. They also touched upon the ongoing cooperation with the European Bank for Reconstruction and Development (EBRD) to launch the "NWFE" platform, which represents a strategic tool for attracting green investments in several sectors, most notably the industrial sector. The meeting also discussed a proposal to establish a new national platform similar to the NWFE program, aimed at mobilizing soft financing and international grants to support green industrial transformation projects within the private sector's manufacturing industries. Additionally, the two ministers explored opportunities available in Egypt to benefit from the High-Impact Private Sector Program, one of the flagship programs of the Green Climate Fund (GCF) and managed by the EBRD. This initiative aims to support private sector projects in developing countries to cut industrial emissions and accelerate the transition to a green economy through a financing package that includes grants, soft loans, and innovative investment tools. El-Wazir and Al-Mashat highlighted the importance of this program, which aligns with the National Climate Change Strategy 2050 and the Nationally Determined Contributions (NDCs), noting that it does not impose any direct financial burdens on the state budget. On his part, El-Wazir directed the formation of a joint technical committee to monitor the implementation of key projects and ensure integration between government initiatives and international financing platforms to achieve results. Meanwhile, Al-Mashat outlined the results of international partnerships in the field of industrial development with various multilateral and bilateral development partners. She stressed that the non-petroleum manufacturing sector witnessed increasing development since the implementation of economic reform measures in March 2024. She indicated that the sector has been leading economic growth rates since the fourth quarter (Q4) of fiscal year (FY) 2023/2024 and throughout the first nine months of FY 2024/2025. It achieved a growth of 7.1% in Q1, followed by 17.7% in Q2, and 16.3% in Q3. Non-petroleum manufacturing industries contributed the most to growth rates in Q3 of FY2024/2025 at 1.9%, according to Al-Mashat. Through the GSI Program, development partners provided €271 million (EGP 16 billion), including approximately EGP 1.2 billion in grants. The remaining portion in soft financing for the private sector through Egyptian banks will be directed to reduce pollution in the industrial sector, encourage the use of renewable energy, and develop sustainable industrial practices. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
11-07-2025
- Business
- Zawya
EBRD, Banque Misr sign $100mln sustainability-linked financing agreement
Arab Finance: The European Bank for Reconstruction and Development (EBRD) and Banque Misr have signed a $100 million sustainability-linked financing agreement, marking the first of its kind between the two institutions, as per a statement. Minister of Planning and Economic Development, and International Cooperation Rania Al-Mashat emphasized that the Ministry is actively working with international partners and local authorities to expand access to innovative financing tools for Egypt's private sector. She noted that since 2020, concessional financing to the private sector has exceeded $15.6 billion, with over 40% directed to financial institutions. She added that efforts are underway, in collaboration with the Federation of Egyptian Banks, to improve the banking sector's access to international credit lines and technical support. The cooperation also includes using platforms such as 'Hafei,' launched by the Ministry to facilitate access to financing and advisory services for small and medium-sized enterprises (SMEs). Al-Mashat pointed to the strategic importance of the partnership with the EBRD, which allocates more than 28% of its portfolio to financial institutions in support of private sector growth. She also acknowledged the role of the Central Bank of Egypt (CBE) and the Financial Regulatory Authority (FRA) in supporting market stability and enabling the introduction of new financial products © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
