Egypt - Economic Governance and Energy Support Program


Project Summary

Approval Date 15 Dec 2015
Signature Date 15 Dec 2015
Planned Completion Date 31 Dec 2016
Last Disbursement Planned Date 31 Dec 2016
Sovereign / Non-Sovereign Sovereign
Sector Multi-Sector
DAC Sector Code 43010
Commitment U.A 365,406,258.68
Status Completion

Project General Description

The present programme is the first phase of the economic governance and energy support program. This is the first of three series of consecutive programmatic General Budget Support (GBS) operation over the period 2015/16-2017/18), and the Bank’s second PBO in Egypt. This operation aims to promote inclusive, resilient and sustainable growth by (i) advancing fiscal consolidation through higher revenue collection, reprioritization and rationalization of expenditure and implementing public finance management reforms and internal audit mechanism; (ii) ensuring sustainable energy supply through improved governance, efficiency and private sector engagement in the energy sector; and (iii) improved business environment through investment laws, industrial license requirements as well as enhancing competition. The package of reforms under the proposed program is organised around three complementary components which are also the program Development Objectives (Dos). These components are the following: (i) advancing fiscal consolidation; (ii) sustainable energy supply; and (iii) enhancing business environment .

Project Objectives

The purpose of the EGESP is to promote inclusive and resilient growth through fiscal consolidation; improved governance, efficiency and private sector engagement in the energy sector; and improved business environment.

Beneficiaries

The EGESP will directly benefit Ministry of Finance (MOF) and ministries and public entities in charge of the energy sector (e.g. EEHC, EGAS, sector regulators, etc.). The 89 million Egyptian people will be the ultimate beneficiaries from fiscal consolidation, as the resultant freed fiscal space will be directed to fund propoor expenditures and basic social services delivery. The private sector too will benefit from reliable and affordable electricity, improved access to finance, especially by SMEs including women-owned enterprises, as well as from more transparent and efficient PFM system, especially relating to procurement practices. The entire population of Egypt will also benefit from the improved operational efficiency and competitiveness in the energy sector that will result in positive impacts on the security, reliability and pricing of energy supply.

Participating Organization

Funding
African Development Bank
Implementing
GOVERNMENT OF EGYPT

Information

IATI identifier 46002-P-EG-K00-009
Last Update 31 Oct 2019

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Contact Details

Geographic Location

Country Egypt
Coordinates Location Name
27 30 Egypt