Egypt’s Minister of Planning, Dr. Rania Al-Mashat, welcomed Mark Davis, new Regional Director for the Southern and Eastern Mediterranean at the European Bank for Reconstruction and Development (EBRD), during a meeting to discuss further cooperation and strategic partnerships between Egypt and the EBRD Davis, who succeeded Dr. Heike Harmgart, was briefed on the progress of existing projects and explored opportunities for future collaboration.
Dr. Al-Mashat began by congratulating Davis on his new role and emphasized the long-standing and fruitful relationship between Egypt and the EBRD. Egypt has been a founding member of the EBRD, and since becoming an operational country in 2012, Egypt has seen substantial growth in investments—totaling €13.8 billion across 194 projects. Notably, over 84% of this investment has been directed towards the private sector, reflecting the growing confidence in Egypt’s economy and supporting its development goals.
The meeting also centered on Egypt’s new sustainability framework, which is designed to leverage planning tools and external resources to promote economic development. The framework aims to foster long-term economic growth through three key pillars: data-driven policy formulation, building a resilient economy, and mobilizing both domestic and international finance for sustainable development.
Dr. Al-Mashat highlighted the Ministry’s role in promoting development financing through economic diplomacy. Over the past four years, Egypt’s private sector has secured $14.5 billion in concessional finance. She also touched on Egypt’s ongoing collaboration with the European Union, particularly around macroeconomic support mechanisms, including the Macro-Financial Assistance (MFA) program. This program, with negotiations for a second tranche worth €4 billion set to begin soon, aims to provide additional financial stability to Egypt.
The Minister also discussed the Egyptian government’s focus on maintaining macroeconomic stability while continuing to implement structural reforms that incentivize private sector participation and improve the investment climate. She outlined the government’s commitment to advancing the privatization program, which will enhance the value of state-owned assets.
Dr. Al-Mashat further noted that the EBRD’s investments in Egypt over the past year demonstrate the bank’s strong confidence in Egypt’s economy and its appeal to both local and foreign private sector firms. These investments have been particularly successful in the renewable energy sector, where Egypt has made significant structural reforms, enabling the country to attract innovative financing for key projects under the “Nove” program.
The meeting also explored deepening cooperation in green financing and renewable energy—sectors seen as vital for Egypt’s future growth—as well as in the transportation sector and public-private partnership projects.
