The Egyptian House of Representatives approved Presidential Decision No. 70 of 2025, endorsing the European Bank for Reconstruction and Development (EBRD) Board of Governors’ decisions to expand the bank’s operations in sub-Saharan Africa and Iraq. The move comes as part of Egypt’s ongoing efforts to strengthen its international economic ties and contribute to global economic development.
The parliamentary session saw the approval of Decisions No. 259 and 260, which not only expand the bank’s operations into new regions but also eliminate legal restrictions on capital allocations for regular operations. This will enhance the EBRD’s ability to support various economic sectors across both regions.
Strengthening South-South and Triangular Cooperation
Rania Al-Mashat, Egypt’s Minister of Planning, and Egypt’s Governor at the EBRD, emphasized that the expansion of the EBRD’s operations underscores Egypt’s commitment to South-South and triangular cooperation. Through this initiative, Egypt plays a pivotal role in connecting emerging economies with international financial institutions to foster sustainable growth and development.
Minister Al-Mashat, remarked that Egypt is the EBRD’s largest country of operations in the South and East Mediterranean region. Since 2012, the bank has played a key role in supporting Egypt’s development, with a total of 194 projects and €13.8 billion in investments, 86% of which are directed towards the private sector.
Supporting Sustainable Economic Growth and Green Transition
The expansion aligns with Egypt’s broader economic strategy, particularly the government’s push to accelerate its green transition and enhance the business environment for the private sector. The strategic partnership between Egypt and the EBRD, now in its implementation phase for the period 2022-2027, aims to boost economic competitiveness and foster comprehensive and sustainable growth.
Through these initiatives, Egypt is positioning itself as a leader in regional economic development, working closely with international financial institutions to meet its sustainability and economic growth targets.
