PHOTO
ArabFinance: The financing portfolio of CDC Group, the UK's development finance institution, in Egypt has been estimated at $440 million allocated for nearly 39 companies, according to an official statement by the Egyptian Ministry of International Cooperation.
The group contributed to offering over 30,000 jobs across several sectors, including new and renewable energy and healthcare, along with other sectors, the statement added.
In 2021, the institution had provided investments worth $320 million for Ein El Sokhna Port and $100 million for a company operating in the pharmaceuticals and medical sectors.
These comments came on the sidelines of international cooperation minister Rania Al-Mashat’s visit to London to meet with CDC’s Group Chair Diana Layfield, in the presence of Egypt's Ambassador to the UK Sherif Kamel.
During the meeting, Al-Mashat discussed integration between the strategy of CDC for 2022-2026 that focuses on turning to green economy and supporting environmental sustainability and the Egyptian government’s efforts to achieve the sustainable development goals by 2030.
Moreover, the minister stressed that Egypt aims at providing the necessary financing for the projects that reinforces the climate action, noting that the country was the first in the region to issue green bonds worth $750 million.
Al-Mashat also said that Egypt was ready to host the UN Climate Change Conference 2022 (UNFCCC COP 27).
