(3 minutes read)
· Egypt and the European Bank for Reconstruction and Development (EBRD) discussed ways to enhance private sector engagement in implementing the national development agenda including areas of cooperation
· They also reviewed the status of the ongoing projects and the possibility of future strategic cooperation frameworks, in addition to the preparations for the first visit of the EBRD’s President to Egypt, Odile Renaud-Basso
Egypt and the European Bank for Reconstruction and Development (EBRD) discussed ways to enhance private sector engagement in implementing the national development agenda including areas of cooperation. They also reviewed the status of the ongoing projects and the possibility of future strategic cooperation frameworks, in addition to the preparations for the first visit of the EBRD’s President to Egypt, Odile Renaud-Basso.
Minister of International Cooperation Rania Al-Mashat represented Egypt in the meeting. Francis Mallige, Director of Financial Institutions Department at the EBRD; Heike Harmgart, Managing Director for the Southern and Eastern Mediterranean region at the Bank; and officials of the bank’s office in Egypt represented the EBRD at the meeting. The parleys took place in the presence of Sherine Taha, Assistant to the Minister of International Cooperation handling the portfolio of international financing and economic research institutions.
Al-Mashat welcomed officials of the EBRD and congratulated them on the US$100 million agreement recently signed by the bank with Banque du Caire. Egypt and the EBRD share a strong development cooperation portfolio, as a result of the Ministry’s framework to enhance multilateralism to support implementation of the national development agenda. Egypt is at the top EBRD’s investments in 2020 among the Southern and Eastern Mediterranean region (SEMED). Al-Mashat also pointed out the available opportunities aimed at strengthening cooperation with the EBRD and the possibility of directing development funds according to the specific development plans of the different governorates.
