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TECHNICAL SUPPORT UNIT WITHIN THE DEBT FOR DEVELOPMENT SWAPPROGRAMME - II PHASE

Egypt

€ 164,746
Committed
€ 154,793
Used

Agency

MAE - DGCS

Channel reported

Central government

Description

The Debt for Development Swap is an instrument conceived to reduce the foreign debt, and, in the meanwhile, to guarantee a positive impact on the socio-economic development situation of the borrowing Country. The conversion mechanism works as a transaction where the government of the crediting Country withdraws part of the foreign debt of the borrowing country, in exchange for a commitment by the debtor's government to invest the corresponding amount in initiatives, bilaterally agreed, aiming at poverty reduction and development, according to national priorities. The Italo-Egyptian Debt Swap (IEDS) Programme started in 2001 and, up to date, comprehends three distinct phases which are characterised by different methodologies and approaches, as well as timings. The Phase 1 (agreement signed in 2001) has been completed, while the Phases 2 (agreement signed in 2007) and 3 (agreement signed in 2012) are currently being implemented. A Swap Fund has been dedicated to the Programme and used for the implementation of projects, in accordance with the guidelines and programmatic principles shared by both Countries, and aiming to promote the socio-economic development of Egypt. In addition, a technical support unit to the IEDS' management committee has been constituted, thanks to a grant of the Italian Ministry of Foreign Affairs and International Cooperation, to ensure the effective and efficient use of the resources and the optimal implementation of all three IEDS' phases' projects. The strategy adopted under the Programme attracts the attention of the Egyptian government on different sectors, from the application of communication and information technology, to rural development, to the environmental sector and the management of water resources, without leaving behind crucial themes, such as protecting the rights of women and children. The IEDS, in addition to ensuring the contribution of other donors and the commitment of substantial national resources, allows the initiation of partnerships between national and international organizations, as well as with government institutions and Non-Governmental Organizations (NGOs). In all concerned areas, Italy offers an added value in terms of transfer of skills, know-how and technologies, including through the involvement of Italian academic institutions and centers of excellence, which provide a solid experience in various fields of intervention. read more close

Year Committed Used
2015 € 51,166 € 40,781
2014 € 810 € 810
2013 € 9,350 € 9,350
2012 € 50 € 50
2011 € 4,442 € 4,442
2010 € 98,929 € 99,361

Project data

  • Expected start date 25/04/2010
  • CRSID2010001824
  • Purpose Public finance management
  • Finance type Aid grant excluding debt reorganisation
  • Flow type Official Development Assistance
  • Bi/Multilateral Bilateral
  • Free Standing Technical Cooperation