Minister Al-Mashat made this announcement during the opening of the mid-term evaluation workshop of the joint country strategy for development cooperation between Egypt and the AfDB for the years 2022-2026.
The finance included six operations in the private sector.
In 2023, the AfDB approved a $131 million loan to Egypt to support the government’s initiatives to stimulate the private sector and promote green development diversification.
This partnership has bolstered development efforts in food security, private sector development, water desalination, wastewater treatment, and renewable energy projects.
Egypt's partnership with the AfDB aligns with its national strategies and aims for economic development.
Moreover, Al-Mashat commended collaboration with the bank under the national platform Egypt’s Nexus of Water, Food, and Energy (NWFE) programme.
She noted that AfDB is Egypt's main development partner in the water sector, which includes establishing five solar-powered desalination plants in four different governorates, with a total capacity of 525,000 cubic metres per day.
Furthermore, the AfDB mobilized $2.2 billion to fund Egypt's water desalination and treatment projects for agriculture in 2023.
Al-Mashat also highlighted the long-standing partnership with the AfDB, noting that Egypt is a founding member who contributed about 12.5 percent of the bank's capital at its inception.
The minister added that Egypt ranks second after Nigeria in capital share among regional countries in the AfDB.
The partnership between Egypt and the African Development Bank has facilitated the financing of more than 128 projects in both public and private sectors, totalling $7.79 billion.
These projects span various sectors, including agriculture, industry, energy, transportation, water and sanitation, financial system development, and improving access to funding for small and micro enterprises.
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