egypt Focuses on Sustainable Finance & Local Revenue Growth
New Capital, Egypt – Egypt’s Minister of Local Development and Acting Minister of Environment, Manal Awad, met with Minister of Finance Ahmed Kouchouk on wednesday to address critical financial and environmental challenges facing the nation. The meetings, held at the Finance Ministry’s headquarters in the New capital, centered on bolstering the waste management system and empowering local governorates through increased financial autonomy.
The first discussion focused on aligning with IMF’s Resilience and Sustainability Trust reforms, ensuring the financial viability of Egypt’s national solid waste management system, and securing funding for private waste collection companies.A key element of this is the implementation of the Extended Producer Duty (EPR) system, a crucial step in egypt’s transition to a green economy, requiring collaboration between the Environment and Finance Ministries. Awad emphasized the commitment to utilizing green economic tools, expanding access to climate financing, and accelerating investments in renewable energy and carbon emission reduction.
Kouchouk reiterated the Finance Ministry’s dedication to supporting waste collection services and bridging the funding gap within the sector to maintain environmental quality and aesthetic standards across Egypt.
The second meeting addressed financial obstacles preventing governorates from developing and managing their own revenue-generating projects. The goal is to strengthen local financial independence,reduce strain on the national budget,and ultimately improve public services. Standardizing regulations for governorate-run activities – including parking, advertising, and affordable housing – nationwide is planned to streamline procedures and enhance service delivery.
Awad expressed gratitude for the Finance Ministry’s continued support, emphasizing that increased local revenue is vital for governorates to effectively serve citizens and promote sustainable development. The Ministry of Local Development will continue to monitor and support governorates’ plans for economic expansion, leveraging regional strengths, and overcoming challenges in coordination with the Finance Ministry and other relevant authorities.
Kouchouk welcomed initiatives to mobilize additional resources, highlighting the importance of private sector engagement and efficient collection of outstanding dues.
Senior officials from both ministries, including Sherine el-Sharkawy, Yasser Abdallah, and key advisors, participated in the meetings.
