Egypt and African Legal Support Facility discuss new infrastructure financing mechanism
via Egypt Today2 min read
Ahmed Rostom, Egypt's Minister of Planning and Economic Development, met with Oliver Bognon, CEO of the African Legal Support Facility ALSF, an affiliate of the African Development Bank AfDB, to discuss enhancing cooperation and accelerating economic development. The meeting explored a proposal for a dedicated financing mechanism combining local and international funds, involving development banks and financial institutions. This mechanism aims to provide investment guarantees to unlock long-term financing for infrastructure projects and leverage global expertise in sustainable funding models. The discussions are part of the Ministry of Planning's efforts to boost private sector participation and focused on expanding Public-Private Partnership PPP models, introducing innovative financing tools to ease pressure on the state budget, and strengthening cooperation in renewable energy and infrastructure development. Rostom highlighted Egypt's economic resilience amid global challenges, attributing it to proactive reform policies, diversified revenue streams, and private sector engagement. He also emphasized the government's focus on improving citizens' quality of life and scaling renewable energy investments, referencing the presidential Decent Life initiative. ALSF representatives praised Egypt's economic relations with the AfDB and reaffirmed the bank's commitment to supporting African economic growth through infrastructure financing, private sector development, and a green econ
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