The Japan International Cooperation Agency (JICA) signed a Loan Agreement (L/A) with the Egyptian government in Cairo on January 16 under the “Development Policy Loan to Support Private Sector Development and Economic Diversification. The outline of the project is as follows
Signing Ceremony
Project Summary
Development policy loans to support private sector development and economic diversification
Development Policy Loan for the Private Sector Development and Economic Diversification Support
Country (region covered)
Arab Republic of Egypt
Business Objectives
This project aims to support the government’s efforts to promote private sector investment, economic diversification, and transition to a green economy in Egypt, which has been affected by the crisis in Ukraine, Sudan, Palestine, and other neighboring countries and regions. This will contribute to the promotion of socioeconomic stability and development efforts in the country.
Business
Through financial assistance, this project will support policy and institutional improvements and their steady implementation in two areas agreed upon and established by relevant ministries and agencies of the Egyptian government: “private sector investment promotion” and “economic diversification and green economy transition support.
Loan amount (maximum)
35 billion yen
Interest Rates
2.0% per annum
Redemption period
30 years (including 10 years of deferment)
Procurement Conditions
General untied
Implementing Agency
Egyptian Ministry of Finance
Contribution to the achievement of the SDGs
Goal 1 (Eliminate Poverty)
Goal 8 (both job satisfaction and economic growth)
Goal 10 (Eliminate inequality among people and nations)
Goal 16 (Peace and justice for all)
Schedule for future project implementation (tentative)
Project completion date: January 2025
(Project completed upon completion of loan)
The project will be co-financed by AfDB (loan amount: US$231 million (including US$100 million from a facility to be established within AfDB – Korea-Africa Energy Investment Framework)). The project is a co-financing with AfDB and will be implemented in close collaboration with AfDB.
© Source JICA
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