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Egypt dedicates $1.4 B financings for healthcare sector development

Egypt dedicates $1.4 B financings for healthcare sector development

ArabFinance: Minister of International Cooperation Rania Al Mashat stated that Egypt has received financings worth a combined $1.4 billion from 18 development partners for carrying out 32 projects across the country, according to a statement issued by the Egyptian Cabinet.

These financings account for 5.6% of Egypt’s current financing portfolio, Al Mashat noted.

Egypt has obtained these financings from multiple sources, including the World Bank Group, the European Union (EU), Arab Fund for Economic and Social Development (AFESD), the European Bank for Reconstruction and Development (EBRD), the World Health Organization, the United Nations Development Programme, and others.

The Egyptian government has signed an agreement at a value of $530 million with the World Bank Group to implement a number of projects in the healthcare sector, in order to improve the quality of healthcare services, the statement added.

Moreover, the Saudi Fund for Development (SFD) has provided Egypt with a loan worth $22.7 million to finance the establishment of a number of healthcare units to meet the demand for healthcare services through an integrated healthcare system.

Additionally, SFD is also financing the development of El Qasr El Eyni Hospital, which is being implemented by the Ministry of Higher Education and Scientific Research at a value of $120 million.

EBRD has also allocated $104 million for the solid waste management project at Kitchener Drain, which is being executed by the Ministry of Local Development.

Meanwhile, AFESD is financing the development of National Hepatology and tropical medicine research institute with $9.9 million, with the aim of enhancing the quality of the healthcare services for citizens.

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