Afreximbank and Minister of International Cooperation launch the electronic platform for EPC contracts

Dr. Rania El Mashat, Minister of International Cooperation, and Benedict Orama, President of African Export-Import Bank ‘Afreximbank,’ launched the electronic platform for Engineering, Procurement, and Construction (EPC) contracts related to banks.

This took place during the third edition of African Intra-trade Fair held in Cairo under the sponsorship of President Abdel Fattah El-Sisi. Minister El Mashat emphasized the platform’s significance in advancing Africa’s Sustainable Development Agenda by enhancing African companies’ participation in infrastructure projects and creating more investment opportunities.

She highlighted the platform’s role in addressing key gaps hindering Africa’s potential, specifically the financing gap estimated at around $170 bn annually, emphasizing its strategic response to financial, informational, and skills gaps.

EPC electronic platform aims to address the financing gap by promoting international cooperation, attracting infrastructure investments, bridging the information gap through transparent communication between governments, the private sector, and international development partners, and tackling the skills gap by providing technical support and skill development.

Minister El Mashat concluded by expressing Egypt’s commitment to increasing private sector involvement in development efforts, connecting it with various financing and investment opportunities, and thanking Afreximbank for its contributions to supporting engineering and contracting companies in Africa, surpassing $12 bn in the past 5 years.

 She called on international development partners to provide further support for African companies, facilitating affordable and low-cost developmental financing, innovative mechanisms, and necessary technical support for infrastructure and green projects in Africa.