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ArabFinance: Egypts Ministry of International Cooperation will boost the private sector through its collaboration with the United Nations Development Programme (UNDP) and Catalyst Partners, according to a February 28thstatement.
The UNDP and Catalyst Partners will back the sustainable development of private sector enterprises and investments.
This partnership aims to help small and medium-sized enterprises measure and manage globally recognized impact measurement principles, standards, and tools.
According to the 2020 annual ministry report, Egypt secured $9.89 billion (EGP 155.57 billion) in development financing to meet the 2030 target sustainable development. The amount included $6.7 billion (EGP 105.39 billion) to finance sovereign projects and $3.19 billion (EGP 50.18 billion) to support the private sector.
The Cabinet said last month that Egypts development finance portfolio totaled about $25 billion (EGP 393.26 billion).
*At press time, the conversion rate is $1 = EGP 15.73
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