CAIRO – Egyptian Minister of International Co-operation Rania el-Mashat said the transportation sector is one of the areas that benefited the most from development financing, as it received about $6.5 billion through international partnerships to implement 24 projects, constituting 25 per cent of the ministry’s ongoing development financing portfolio.
The minister made the remarks during a meeting held Wednesday with Minister of Transport Kamel el-Wazir at the Ministry of International Co-operation headquarters to review the status of the Transport Ministry’s projects and the soft development financing to be provided for the transport sector in 2022.
Mashat said developing a sustainable infrastructure for Egypt’s transportation sector is one of the main pillars that the state relies on to promote climate action, and lead the regional transformation towards a green economy.
The transportation sector comes among the national priorities that are aimed at developing infrastructure, she said, adding that developing this sector is reflected in the increasing engagement of private sector in the development efforts.
The government seeks to develop environmentally-friendly transportation networks as part of its 2030 Vision, she said, citing the implementation of a high-speed electric train, the industrial areas, and the monorail project.
