CAIRO - 2 February 2022: The Ministry of International Cooperation has provided development financing agreements in 2021 for developing the sustainable infrastructure of the transport sector; supporting Egypt’s vision in scaling up smart transportation projects, and to achieve the United Nations Sustainable Development Goals.
The Ministry of International Cooperation’s 2021 Annual Report launched under the title “Engaging For Impact Towards Our Common Future: International Partnerships for Sustainable Development”, detailed that the development financing secured for the transportation sector in 2021 amounted to $1.14 billion, from development partners including the European Bank for Reconstruction and Development, the African Development Bank, the World Bank Group, and Austria. This amount contributes to SDG 9: Industry, Innovation and Infrastructure and SDG 11: Sustainable Cities and Communities.
It further showed that the transport sector is one of Egypt’s priority sectors, as the country is working to develop this sector in a way that enhances the availability of advanced means of transportation for all, as well as means of transporting goods and enhances connectivity between cities and governorates, taking into account environmental standards.
The Ministry’s annual report detailed that the World Bank has approved a $440 million development financing to implement a development project that enhances the safety and services of the country’s railways. The project will focus on modernizing the signaling of the Cairo-Beni Suef segment of the ENR network and supporting the reforms needed to enhance the ENR’s performance and competitiveness. This is in addition to the completion of the ENR development project along the (Alexandria - Cairo) and (Beni Suef– Nag Hammadi) 763 km line.
Modernizing the signals for Cairo, Giza and Beni Suef segments of the ENR network is at the core of the project in order to increase the safety measures on the lines. This is in addition to supporting the Ministry of Transport’s efforts in modernizing the railway lines so that the ENR can operate in accordance with the global best practices.
Furthermore, a development financing agreement was also signed with the AfDB worth $177 million, to develop Egypt's railways and install an automatic protection system for trains, in addition to a development financing agreement from Austria worth $10 million in order to supply 4 machines to maintain railway cars.
The Ministry of International Cooperation also signed a development financing agreement from the EBRD worth $240 million to implement a project that supports the first phase of the development of the first metro line, as well as $278 million to implement the Abu Qir railway development project and its conversion into an electric metro. In 2020, the Ministry of International Cooperation had signed development financing agreements with the European Investment Bank wirth EUR 1.1 billion, to implement 3 key projects in the transport sector across Cairo and Alexandria; the rehabilitation and development of the Abu Qir railway, into a 22 km high-frequency metro at a cost of EUR 750 million, as well the rehabilitation of Cairo Metro Line 2, with a length of 23 km and the renewal of its vehicles at a value of EUR 250 million.
In 2020, the Ministry of International Cooperation launched a Multi-stakeholder Platform (MSP) for the transport sector, alongside the Ministry of Transportation, Al-Wazir. During the MSP, Lieutenant General Kamel Al-Wazir presented the investment plan for the transportation sector and the development projects that are intended to be implemented in order to achieve cooperation plans with development partners that are aligned with the state’s priorities.
It is worth noting that the secured development financing directed to the public and private sectors last year amounted to $10.2 billion. This includes $8.75 billion directed to public sector development and $1.57 billion directed to private sector development. This also includes development financing grants of $476 million, representing 5% of 2021’s total secured development financing.
The annual report documents the Ministry’s country-led multi-stakeholder engagement framework within the principles of Economic Diplomacy, including hosting Multi-stakeholder Platforms, and by mapping the Official Development Assistance to the Sustainable Development Goals (SDGs), where in 2021 the ongoing portfolio includes 372 projects amounting to $26.5 billion, supporting Egypt’s efforts in accelerating development.
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