PPP WEEK Conference Honors the Ministry of Finance's PPP Unit for Winning Two International Awards for the Globally Unique Initiative of Establishing Egypt's Projects Preparation Facility

PPP WEEK Conference Honors the Ministry of Finance's PPP Unit for Winning Two International Awards for the Globally Unique Initiative of Establishing Egypt's Projects Preparation Facility

 

 

The World Association of Public-Private Partnership Units (WAPPP), affiliated with the United Nations, and the 9th International Conference "Public-Private Partnership Week (PPP WEEK)" honored the Public-Private Partnership Central Unit at the Ministry of Finance for winning two international awards from both entities for signing the Egypt Projects Preparation Facility (EPPF) agreement between the Ministry of Finance and the European Bank for Reconstruction and Development (EBRD) to enhance private sector growth in the Egyptian economy in public- private partnership (PPP) projects.

 

Atter Hannoura, Head of the Public-Private Partnership Central Unit at the Ministry of Finance, emphasized that the initiative recently concluded by Egypt "the Ministry of Finance Initiative – the Public-Private Partnership Central Unit" with the European Bank for Reconstruction and Development (EBRD) is the first of its kind in the world, representing a new Egyptian innovation from the Public-Private Partnership Central Unit, as it provides innovative solutions to best practices and challenges facing PPP, which has garnered the appreciation of international organizations specializing in private sector partnership projects. These organizations have stressed the need to leverage the successful Egyptian experience and disseminate this initiative in other countries.

 

He added that the agreement aims to establish a joint fund of €10 million, with Egypt contributing only €1 million, payable in Egyptian pounds, alongside EBRD, other international development banks and donors contributing €9 million. The fund will be managed by the EBRD to provide all means of support to maximize private sector participation in infrastructure projects by reducing the time required to obtain funding for feasibility studies and appoint technical, financial, and legal consultants for PPP projects from development partners from one year to just two months. Several international development banks have expressed their desire to join and contribute to the funding of the EPPF.

 

He pointed out that the activities of the 9th Istanbul PPPP Week provide a good opportunity for approximately 50 participating countries from around the world to discuss the current and future status of PPP model within the framework of the United Nations' social development goals, sustainability, innovative project financing methods, climate resilience, disaster risk management, future-proof cities, and globally accepted implementation examples.