Egypt to team with UK for PPPs

A British delegation could assist Egypt in building low-cost housing, schools and other infrastructure projects through PPP.

The  delegation, led by Lord Mayor of the City of London and ambassador for business Alderman Michael Bear, has offered support to help launch future low-cost projects, including toll roads, airports and ports.

"It's up to the Egyptian government to decide its priorities," Bear told reporters. "These sectors, we think are of interest for Egypt [and] we are here to give our view on how to give confidence to business."

The delegation (which included London-heads from Standard Chartered, HSBC and JP Morgan banks) held meetings with officials from the Ministry of Finance, Central Bank of Egypt and British Egyptian Business Association, among other organisations, on the tour that ended this week. 

Bear, a social PPP expert who oversaw several low-cost housing and hospital projects, pledged to help the Egyptian government fully implement its 2010 PPP law to attract foreign investment.