Egypt’s Minister of Planning, Rania Al-Mashat, met with a European Union delegation to discuss the implementation of a €1.8 billion investment guarantee offered through the European Fund for Sustainable Development Plus (EFSD+).
This initiative, part of a broader €7.4 billion strategic framework between Egypt and the EU, aims to support a wide range of projects and programs across various sectors, including trade, renewable energy, culture, education, and social development.
The meeting explored the possibility of hosting a workshop in Egypt to familiarize stakeholders with the EFSD+ mechanisms, its benefits, and its operational framework. The EU delegation, led by Florian Ermacora, Head of the North Africa Unit at the Directorate-General for Neighborhood and Enlargement Negotiations, reviewed ongoing cooperation programs and strategies to further strengthen the partnership.
Al-Mashat emphasized the importance of this strategic partnership, which aligns with Egypt’s national priorities and addresses emerging needs. She highlighted the EU’s ongoing support for Egypt’s priority projects, with a current portfolio of €1.3 billion in grants and blended financing.
The €1.8 billion investment guarantee, announced earlier this year by EU President Ursula von der Leyen, is part of a larger financial package that includes €5 billion in macro-financial aid and €600 million in grants. This comprehensive support package underscores the EU’s commitment to Egypt’s economic and social development.
