Egypt's South Helwan Power Station project won Abdul Latif Youssef Al-Hamad Development Award
The South Helwan Power Station project won the Abdul Latif Youssef Al-Hamad Development Award in the Arab region during the 2023 joint annual meetings of Arab financial institutions held in Rabat, Morocco.
This was presented by the Arab Fund for Economic and Social Development (AFESD) in a competition with 11 projects. It was nominated for the award, including two projects from Egypt and 9 projects from Jordan, Sudan, Djibouti, Somalia, Mauritania and Yemen, in addition to a project implemented at the regional level.
The award is presented to the best economic and social development project in the Arab countries, funded in part or in full by the institutions of the coordination group, with priority given to joint projects between Arab countries.
The aim is to encourage and highlight successful development projects that have addressed existing problems, or contributed to strengthening the economic and social capabilities in the Arab countries; thus spotlighting an inspiration for creativity, good management and efficient completion of projects.
The Minister of International Cooperation, Rania A. Al-Mashat, confirmed that the award of the Abdul Latif Youssef Al-Hamad Development Award for the South Helwan Power Station project reflects the importance of the project and the efforts that Egypt is making with development partners from Arab institutions to develop infrastructure, especially in the energy sector, and to enhance its electricity capabilities and provide needs and exports to neighboring countries.
The project reflects the importance of multilateral cooperation, as 4 institutions contributed to its financing; the OPEC Fund for International Development, the Arab Fund for Economic and Social Development (AFESD), the Kuwait Fund for Arab Economic Development (KFAED), the Islamic Development Bank (IsDB), and the International Bank for Reconstruction and Development (IBRD).
Al-Mashat explained that the South Helwan Power Station project is not the first within the development cooperation portfolio to receive awards from regional or international institutions, reflecting Egypt's success in cooperating with development partners in formulating projects and establishing sound implementation mechanisms to ensure their sustainability and ability to advance the development process in the region.