|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|
|DAC Sector Code||43010|
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 .
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.
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.
African Development Bank
GOVERNMENT OF EGYPT
|Last Update||16 Jan 2020|