According to a Monday statement from the Ministry of Planning, Economic Development, and International Cooperation, the signing took place during a visit by the EBRD’s new Managing Director for the Southern and Eastern Mediterranean region, Mark Davis.
The funding will prioritize developing youth- and women-owned regional firms and MSMEs, to improve market competitiveness and economic sustainability.
The NBE aims to “expand access to finance, enhance productive capacity, and ensure that inclusive growth reaches every part of the country,” CEO Mohamed El-Etreby said.
The agreement supports the government’s goal of establishing a private-sector-driven economic model, in line with Egypt’s national economic development framework for the next five years.
That framework focuses on sectors including tourism, information and communication technology, agriculture, energy, and manufacturing.
“Through our partnership with the EBRD and various international institutions, we are working to empower the private sector and stimulate investment by providing accessible financing to banks and companies,” Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat said.
The agreement was signed during a visit by EBRD Vice President Greg Guyett. Egypt has already received around 1.5 billion euros in EBRD investment in 2024, 80 percent of which went to private-sector funding.
The EBRD has financed more than 206 projects in Egypt since 2012, with total investments exceeding 13.5 billion euros.
It is also a key partner in the Nexus of Water, Food and Energy (NWFE) programme, having invested $5 billion in private-sector renewable energy projects, according to Al-Mashat.
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