Cairo: Egypt's Ministry of Planning, Economic Development, and International Cooperation is stepping up efforts to promote sustainable development and private sector growth, facilitating a $100 million sustainability-linked loan agreement between Banque Misr and the European Bank for Reconstruction and Development (EBRD).

According to State Information Service Egypt, through its Private Sector Engagement Unit, the ministry will play a central role in connecting small and medium-sized enterprises (SMEs) applying via the 'Hafiz' platform with member banks of the Federation of Egyptian Banks, ensuring these businesses gain access to crucial financial and technical support.

This includes sharing essential project information and enabling banks to register on the platform to explore financing and partnership opportunities provided by international development organizations.

Additionally, the ministry is offering banks the chance to participate as financial service providers or advisors by listing their financing and training programs on Hafiz, expanding their reach to a broader network of SMEs.

Rania Al-Mashat, Minister of Planning, emphasized the ministry's commitment to mobilizing resources and attracting private investment, particularly in green transformation projects, as part of Egypt's sustainable development strategy.

Since 2020, the ministry's efforts have helped channel over $15.6 billion in concessional financing to the private sector, with more than 40% directed toward financial institutions.

Al-Mashat also highlighted that the ongoing collaboration with the Federation of Egyptian Banks, formalized through a cooperation protocol signed in June, aims to strengthen the financial ecosystem and unlock new opportunities for private sector growth through the Hafiz platform.