Part of the Roundtable between international corporations and development partners along with the Director General of the Southern Neighborhood Economic and Investment which was held on Sunday 30 June, 2024. photo courtesy of Egyptian Ministry of International Cooperation.
These FDIs, she added, are expected to channel into several sectors of mutual interest to Egypt and the EU, including energy, food security, water and climate action.
The €1.8 billion fund is a part of the EU’s €7.4 billion financing package committed to Egypt to support the country’s economy.
Al-Mashat made her remarks during a roundtable on Sunday with international corporations and development partners on the sideline of the final day of the Egypt-EU Conference.
The meeting aimed to define the mechanism of the EU investment guarantees, according to a statement by the international cooperation ministry released on Monday.
Minister Al-Mashat noted said the private sector is “a major focus in our collaboration with the European Union and International Institutions.”
On Sunday, Al-Mashat signed six developmental grants with the European Union, Agence Française de Développement and the European Investment Bank. These agreements were signed within the framework of the third stage of the cross-border cooperation program with Mediterranean countries.
The Egypt-EU conference that took place on 29 and 30 June in Cairo.
The event marked the start of a multi-staged plan for cooperation between Egypt and the EU as per a deal agreed upon by both sides during the Egypt-EU Summit in March 2024 in Cairo.
Under the agreement, Egypt would receive €7.4 billion in EU funding until 2027.
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