Egypt's Finance Minister, Ahmed Kouchouk, stated that the financial needs required to meet the Sustainable Development Goals (SDGs) far exceed the capacity of governments alone. He emphasized the critical importance of partnerships and strengthening the role of the private sector, along with other development partners, in driving forward the country’s development agenda. The private sector's role, according to Kouchouk, extends beyond financing to include efficient management, operations, and ensuring the quality of services provided to citizens.

 

In a statement, the minister highlighted that Egypt is focusing on expanding public-private partnership (PPP) projects across all sectors of sustainable urban development. He further emphasized the government’s ongoing efforts to encourage private sector participation in local development, particularly in the provinces, to create more job opportunities.

 

Speaking at the World Urban Forum during a session, Kouchouk outlined Egypt’s commitment to boosting local resource development and increasing the private sector’s contribution to implementing projects. He noted that these efforts are essential to enhance employment prospects and economic growth at the local level.

 

“We are open to any innovative ideas that can help improve management systems, increase local revenues, and ensure that financial resources are directed towards benefiting citizens,” said Kouchouk.

 

The minister also pointed to the importance of tools like "blended financing" and "guarantees," which help reduce costs while providing attractive returns for private sector investors, ensuring the sustainability of development initiatives.

 

Furthermore, Kouchouk revealed that Egypt has developed a green and sustainable financing framework that adheres to international standards, providing new opportunities for private sector investment. He stressed that these efforts are part of the country's broader strategy to attract investment and enhance the role of the private sector in the national economy.

 

Highlighting Egypt’s successes in public-private partnerships, Kouchouk mentioned key sectors such as renewable energy, transportation, infrastructure, and human development. He confirmed that the country plans to significantly expand these partnerships as part of its efforts to drive economic growth and achieve sustainable development goals.

 

The minister also pointed to the Upper Egypt Development Project, financed in collaboration with the World Bank, as a model of success for localized development and a significant step in empowering the region’s economy.