Egypt’s Minister of Planning and Economic Development, and Governor of Egypt at the European Bank for Reconstruction and Development (EBRD), Dr. Rania Al-Mashat, welcomed Odile Renaud-Basso, President of the EBRD, at the Ministry’s headquarters in the New Administrative Capital. The meeting was part of Renaud-Basso’s official visit to Egypt and focused on strengthening the strategic partnership between Egypt and the EBRD across several sectors.
During the meeting, Dr. Al-Mashat highlighted Egypt’s efforts to achieve inclusive economic development, led by the private sector. She emphasized that Egypt’s economic strategy focuses on tradable and exportable sectors, working to ensure that the country becomes a hub for business and investment in the region.
Dr. Al-Mashat shared Egypt’s strategic focus on launching an executive plan aimed at accelerating economic growth, based on foreign direct investment, industrial development, and human capital. She also highlighted the government’s ongoing efforts to integrate the work of various state bodies to boost the industrial sector, leveraging Egypt’s significant economic potential.
Positive growth in private sector investments was noted for the first and second quarters of the current fiscal year, fueled by economic and structural reforms. Furthermore, the Minister reiterated Egypt’s commitment to joint efforts in advancing the energy sector, particularly within the framework of the “NWFE” program, which is focused on renewable energy investments. The country aims to attract $10 billion in renewable energy investments.
Odile Renaud-Basso, President of the European Bank for Reconstruction and Development, also spoke at the meeting, outlining the bank’s investment of 1.5 billion euros (86 billion Egyptian pounds) in Egypt in the past year. She emphasized the bank’s commitment to continue supporting Egypt’s development by increasing investments in various sectors. The President noted the strategic nature of the Egypt-EBRD relationship, describing it as diverse and offering substantial opportunities for further collaboration in development projects.
The meeting also covered preparations for the EBRD’s annual meetings and Business Forum scheduled for May 13-15 in London. These events will provide a platform to further enhance cooperation between Egypt and the bank and discuss future collaborative efforts in promoting investment and development.
