• Intensive meetings held with the mission to review the implementation of the Egypt–Saudi Arabia electricity interconnection, the development of Dahab City, and the High-Speed Electric Rail project

• H.E. Al-Mashat: Our partnership with the Islamic Development Bank is strategic and supports the State’s efforts to achieve inclusive and sustainable economic development

• We look forward to expanded cooperation with the IsDB Group to increase private-sector financing

The Ministry of Planning, Economic Development and International Cooperation received a technical mission from the Islamic Development Bank (IsDB) during December, within the framework of monitoring development projects financed by the Bank in the Arab Republic of Egypt and reviewing the latest implementation progress. This comes in execution of the directives of H.E. Dr. Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation, to ensure continuous follow-up on the evolution of international partnerships.

The visit takes place in light of the Ministry’s role in managing international cooperation relations and maximizing the impact of concessional development financing in support of Egypt’s national plans and strategic priorities across infrastructure, urban development, and sustainable transport. The Ministry also works to apply international best practices in monitoring and managing development cooperation, ensure the optimal use of development finance, enhance governance and transparency, accelerate the implementation of priority projects, and strengthen integration between development partners and implementing entities—positively reflecting on the quality of public services and the competitiveness of the Egyptian economy.

H.E. Dr. Rania Al-Mashat expressed Egypt’s appreciation for the productive partnership with the Islamic Development Bank Group, which supports the implementation of national priorities to achieve sustainable economic development and contributes to increasing private-sector financing through various financial instruments. She emphasized the importance of expanding this partnership to become more comprehensive, building on the long-standing and pivotal relations between both sides, to advance economic development efforts, food security, and investment in human capital. She also highlighted Egypt’s commitment to leveraging international partnerships to introduce innovative financing tools for both local and foreign private-sector investments.

Mission Program and Key Project Reviews

The visit featured an intensive program organized by the Ministry in cooperation with relevant national entities, including the Ministry of Local Development, South Sinai Governorate, the Ministry of Transport and the National Authority for Tunnels, and the Egyptian Electricity Transmission Company (EETC). The program included technical meetings and field visits to several IsDB-financed projects, as follows:

Implementation Status of the Strategic Master Plan for Dahab City

The mission reviewed the implementation status of the Strategic Master Plan for Dahab City and discussed initial outputs for identifying priority development interventions aimed at improving quality of life and services, supporting smart applications and urban innovation, and attracting sustainable investments. This took place during a meeting attended by Major General Dr. Khaled Mubarak, Governor of South Sinai, via videoconference, alongside representatives from the Ministry of Local Development and UN-Habitat.

The parties agreed on a set of priority interventions to be supported through technical assistance from the Islamic Development Bank, in addition to establishing an investment platform for Dahab City featuring priority investment opportunities across the governorate, as well as completing capacity-building programs for South Sinai Governorate and Dahab City staff.

During the meeting, Governor Khaled Mubarak highlighted several priority development projects that will drive growth in the city, including the development of three world-class diving sites (Blue Hole, Three Pools, and Canyon); urban redevelopment and re-planning of the Al-Asala area, transforming it from an informal settlement into a fully planned and serviced urban area; development of adjacent urban extensions and western expansions; development of the Laguna area as a global recreational and tourism hub; establishment of an integrated, environmentally friendly public transport system; and the design of a smart application to manage the transport system.

Phase One of the High-Speed Electric Rail Project

The mission conducted a field visit to Sphinx Station as part of Phase One of the High-Speed Electric Rail Project, co-financed by the Islamic Development Bank, to review completed works and implementation progress. A meeting was also held with representatives of the Ministry of Transport and the National Authority for Tunnels to review the implementation status of Phase One, which aims to contribute to comprehensive socio-economic development in Egypt by establishing a sustainable electric railway system operating high-speed trains.

Phase One of the project extends 675 km, from Ain Sokhna to New Alamein and Marsa Matrouh. The IsDB’s contribution covers the section between Sphinx Station west of Cairo and Marsa Matrouh, spanning approximately 390 km.

Egypt–Saudi Arabia Electricity Interconnection Project

The mission concluded its activities with a technical meeting attended by representatives of the Egyptian Electricity Transmission Company, which delivered a presentation on the implementation status of the Egypt–Saudi Arabia Electricity Interconnection Project—a strategic project enhancing energy security by meeting part of the electricity demand in both countries and improving grid performance and stability.

The project will interconnect the two largest power systems in the Arab world, with a combined capacity exceeding 90,000 MW, and upon completion will complement the broader interconnection network linking the GCC countries, the Eight-Country Interconnection, and the Maghreb Interconnection.

The presentation reviewed progress rates for the IsDB-financed package related to converter stations, which have reached an advanced completion rate of 88.5%. The mission also conducted a field visit to Badr Converter Station to review on-site works and implementation progress.

Long-Standing Strategic Partnership

It is worth noting that the partnership with the Islamic Development Bank Group represents one of Egypt’s most established strategic partnerships, contributing to the implementation of major development projects with direct impact on citizens’ lives. Since the start of cooperation in 1974, the cumulative financing portfolio has reached approximately USD 26.1 billion, supporting around 431 projects across electricity and energy, agriculture and irrigation, health, education, industry, transport, and information technology. To date, 354 projects have been completed, while 77 projects are currently under implementation.