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Home Finance Egypt’s growth financing reaches $8.7bln in 2021

Egypt’s growth financing reaches $8.7bln in 2021

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Egypt’s growth financing reaches $8.7bln in 2021

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Cairo –  Egypt’s growth financing has totalled $8.70 billion in 2021, Ahram Gate cited Minister of Worldwide Cooperation, Rania El-Mashat, on Monday.

El-Mashat elaborated that the event financing for the agriculture and meals safety sector represented 18% of the whole funding. In the meantime, investments within the transport and communications in addition to power sectors accounted for 3% and 12%, respectively, of the whole. El-Mashat added that 18% of 2021 growth financing supported the nation’s funds.

Egypt has secured almost $20 billion in growth finance throughout 2020 and 2021 to assist completely different sectors, together with transportation, renewable power, electrical energy, infrastructure, well being, housing, water remedy, and others.

As well as, the minister said that the personal sector’s share of the financing in the course of the two-year interval reached round $5 billion, a part of which was credit score strains directed to banks.

Final week, the World Financial institution permitted a $500 million mortgage to bolster the Arab Republic’s meals safety and agriculture sector.

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