‘Entrepreneurs successfully built inclusive civilized cities for all segments’

CAIRO – Minister of Finance Ahmed Kouchouk said that the government has provided land at competitive prices and developed infrastructure, enabling entrepreneurs to build comprehensive civilized cities that cater to all segments of society.

The minister was addressing a round-table titled “Future Global Action Plan on Housing and Infrastructure Finance”, which was held within the framework of the activities of the twelfth session of the World Urban Forum (WUF12) that kicked off in Cairo on Monday and runs till Friday under the theme “It all starts at home: Local actions for sustainable cities and communities.”

Egypt is open to innovative tools aimed at reducing costs, including utilizing guarantees and green and sustainable financing, Kuchouk said.

He added that the state is keen on enhancing local resources to push forward urban development.

Kouchouk emphasized the importance of finance and funding for planning international targets, in order to ensure the ability to achieve them.

The minister highlighted the necessity of adopting an inclusive approach based on dialogue and partnership with all stakeholders, including the private sector, to achieve the Sustainable Development Goals (SDGs).

Egypt has outstanding models of partnerships between the public and private sectors in several domains, including the infrastructure, clean energy and housing, according to him.

The WUF round-table on housing and infrastructure finance consists of two parts; Sustainable financing model for urban development and Boosting real estate export and activate investment funds.

The discussion aims to define how activities supporting the implementation of the 2030 Agenda on Sustainable Development in connection with the achievement of the SDG 11, are financed through different approaches at national and local levels. Goal 11 is about making cities and human settlements inclusive, safe, resilient and sustainable.

Egyptian Minister of Planning and International Cooperation Rania al Mashat, Minister of Investment Hassan el Khatib and Executive Director of the United Nations Human Settlements Program (UN-Habitat) Anacláudia Rossbach took part in the round-table discussion.