Minister of Finance Dr. Youssef Boutros Ghali has announced that a number of agreements will be finalized between the Ministry of Finance and the government education board for the construction of schools to begin the construction of fifty schools according to the public private partnership PPP in order to merge with the President’s directives on the construction of 3500 schools in six years.  The announcement was made during an expanded meeting with the Ministers of Finance and Investment as well as a number of officials in the finance sector.

Dr. Ghali has reiterated that a special tender will be offered in the next weeks provided the terms will be long term and fair to all parties to ensure the continuity of the project.  The Minister said that the Ministry of Finance will be committed to pay a monthly or semi annual rent over fifteen years as a government guarantee to the bank or the contractor.  The financing of the project will be in agreement between the contractors and the financing bank.  Contractors will be selected based on experience to sustain quality and continued maintenance.

The Minister of Finance said the partnership aims at improving services and alleviating burdens on the State Budget without obstructing services at affordable prices and encouraging investment, thereby attracting grants through partnerships.

The first stage will include the building of 50 schools in 11 governorates divided along three geographic zones.  Sharkiya will host 22 schools, the larger number in the first stage, followed by Kafr el Sheikh, Alexandria, Al Gharbiya, Al Beheira, Damietta, Menoufia, Giza, Cairo and Kalyoubia.

(source: Ministry of Finance)