2025.01.17
On January 16th, the Japan International Cooperation Agency (JICA) signed a loan agreement with the Government of the Arab Republic of Egypt in the capital city Cairo, to provide Japanese ODA loan for Development Policy Loan for the Private Sector Development and Economic Diversification Support.
Signing ceremony
Outlines on the project are provided as below.
Terms and Amount of Loan
- Country (Target Areas)
The Arab Republic of Egypt
- Project Objective
The objective of the Program is to enhance private sector development and economic diversification towards transition to a green economy through budget support for policy reforms contributing to (i) strengthening the economic competitiveness and (ii) diversifying the economy toward a green economy, thereby contributing to promoting the economic stabilization and sustainable development efforts of Egypt.
- Project Component
The Program supports policy and institutional improvements and their steady implementation in the two areas of "Promotion of Private Sector Investment" and "Support for Economic Diversification and Transition to a Green Economy", which have been agreed upon and set among the Egyptian government agencies through financial support.
- Maximum Loan Amount
35,000 million Japanese Yen
- Annual Interest Rate
2.0%
- Repayment Period
30 Years
- Grace Period
10 Years
- Procurement
General Untied
- Executing Agency
Ministry of Finance of Egypt
- Contribution to SDGs
Goal 1 (No poverty)
Goal 8 (Decent work and economic growth)
Goal 10 (Reduced inequalities)
Goal 16 (Peace, justice and strong institutions)
- Planned Implementation Schedule
Completion of the Project: January 2025, upon disbursement of the loan.
JICA is co-financing this program with the AfDB (231 million USD, including 100 million USD from the facility set up within the AfDB, the Korea-Africa Energy Investment Framework).
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