Cairo - Mubasher: Egypt's private sector has signed development financing agreements worth more than $4.5 billion in 2021 and 2020, Rania El-Mashat, the Egyptian Minister of International Cooperation, said.

The private sector has benefitted from banks' credit lines for small and medium projects and the first green bonds, issued by Egypt's Commercial International Bank (CIB), for the segment, El-Mashat announced during the seventh CEOs Thoughts Conference.

The minister added that Egypt reached development financing agreements valued at $9.8 billion across different sectors during 2020.

El-Mashat further remarked that the World Bank and the Asian Infrastructure Investment Bank have provided Egypt with $720 million for the Development Policy Financing (DPF) framework.

The European Bank for Reconstruction and Development (EBRD) expected in its Regional Economic Prospects that the Southern and Eastern Mediterranean region would achieve economic growth of 4.2% in 2021 and 4.4% in 2022, and Egypt would lead the region's recovery, the minister referred.