CAIRO – Finance Minister Mohamed Maait stressed that Egypt’s accession to the Africa Finance Corporation (AFC) membership contributes to opening vistas of investment in projects of infrastructure, heavy industries, communications, transportation, logistics and green transformation.
The AFC contributes to securing soft financing for public and private sector projects in order to achieve sustainability goals and promote Egyptian economy capabilities.
In a statement issued by the Finance Ministry, Maait said after the parliament’s approval to access the AFC, Egypt will proceed with efforts to incentivize public and private investments.
This will help improve people’s living conditions and services, especially through promoting cooperation with regional partners in light of the unprecedented international challenges.
This step goes in line with Egypt’s efforts to increase green investments to 50 percent of the 2024-2025 budget through expanding clean energy and smart transportation projects, etc, he said.
He stressed Egypt’s keenness on promoting its presence in Africa to realize mutual interests.
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