Cairo – Mubasher: Egypt’s development financing has totalled $8.70 billion in 2021, Ahram Gate cited Minister of International Cooperation, Rania El-Mashat, on Monday.

El-Mashat elaborated that the development financing for the agriculture and food security sector represented 18% of the total funding. Meanwhile, investments in the transport and communications as well as energy sectors accounted for 13% and 12%, respectively, of the total. El-Mashat added that 18% of 2021 development financing supported the country’s budget.

Egypt has secured nearly $20 billion in development finance during 2020 and 2021 to support different sectors, including transportation, renewable energy, electricity, infrastructure, health, housing, water treatment, and others.

In addition, the minister stated that the private sector's share of the financing during the two-year period reached around $5 billion, part of which was credit lines directed to banks.

Last week, the World Bank approved a $500 million loan to bolster the Arab Republic’s food security and agriculture sector.