Minister of International Cooperation (MoIC), Rania Al-Mashat, held a high-level round table with the participation of development partners and international institutions, to introduce the mechanism of investment guarantees worth €1.8 billion, according to a report released by MoIC.

The European Union provided this fund to Egypt as part of a financing package worth €7.4 billion.

These guarantees are expected to attract foreign direct investment to Egypt worth €11 billion in priority sectors, Al-Mashat added.

The Minister of MoIC stated that these guarantees will be available through European financial institutions, and other international financial institutions.

She emphasized the importance of fostering collaboration among development partners and utilizing the diverse range of tools offered by international institutions to bolster and empower the private sector.

This synergy would expand opportunities for foreign direct investments and reinforce the government's endeavors to enhance private sector involvement across multiple domains of development.

Recently, Prime Minister, Mostafa Madbouly, witnessed the signing ceremony of four financing agreements worth €300M funded by grants from the European Union.

Egypt also signed agreements worth $33 billion for 4 green ammonia projects during the 2nd day of the Egypt-EU Investment Conference, highlighting the growing number of green ammonia projects in the Suez Canal Economic Zone (SCZone).