- A statement issued by the Ministry of International Cooperation, Egypt has revealed that the European Bank for Reconstruction and Development’s (EBRD) financing to Egypt amounted to about €7.7 billion.
- The financing covered both the government and the private sector.
A statement issued by the Ministry of International Cooperation, Egypt has revealed that the European Bank for Reconstruction and Development’s (EBRD) financing to Egypt amounted to about €7.7 billion. The financing covered both the government and the private sector.
About 73 percent of the 143 projects implemented under the EBRD financing were in the private sector, according to Rania Al-Mashat, Minister of International Cooperation. The financing of the private sector during the current year amounting to €288.3 million, included sectors such as renewable energy, small and medium enterprises, agriculture and others.
Egypt continued to top the list for the third consecutive year in the southern and eastern Mediterranean region during 2020 with the Bank investing €1 billion to finance 21 projects, accounting for 47 percent of the Bank’s total investments in the region. The current portfolio of cooperation between Egypt and the Bank this year is about $1.6 billion.
The Ministry of International Cooperation of Egypt is in the process of finalisation of a new country strategy with the European Bank for Reconstruction and Development until 2026.The new strategy has three main pillars.. These include achieving a more inclusive economy for the business community, youth and women, transition towards a green economy, enhancing growth and resilience through supporting small and medium enterprises.
