Minister of International Cooperation and Governor of Egypt at the European Bank for Reconstruction and Development (EBRD) Rania al Mashat, has been chosen for the first time ever as vice-chair of the EBRD meetings in the 2024 session.
During the minister’s involvement on Tuesday, 14/5/2024, in the 33rd session of the EBRD’s annual meetings in Yerevan, Armenia, under the theme “Together for Impact,” this information was conveyed.
The appointment of Mashat as the vice chairperson of the EBRD’s meetings aligns with the Ministry of International Cooperation’s commitment to fostering and enhancing economic relations with multilateral and bilateral development partners.
The scheduled meetings spanning three days will convene the senior leadership of the EBRD, headed by Ms. Odile Renaud Basso, the President of the Bank, and the Bank’s Board of Governors.
The attendees will also include a substantial cohort of CEOs participating in the Business Forum, representatives of development partners, and civil society members from various countries of operations.
Mashat emphasized the significance of the ongoing meetings in the context of the strategic advancement of the partnership between Egypt and the European Union, as well as the declaration of the decision to further elevate relations strategically at the Egyptian-European Summit.
The Minister highlighted the significant role of the EBRD as one of Egypt’s primary development partners, particularly in the support and empowerment of the private sector.
Notably, 80% of the bank’s investment portfolio is allocated to private sector companies in Egypt, reflecting its substantial contribution to the country’s economic development.
Al-Mashat has highlighted that, given this partnership and the advancement of relations with the European Union, there will be an increase in collaborative efforts during the upcoming period within the framework of the joint country partnership 2022-2027.
