EBRD approves new country strategy for Egypt through 2027

Doaa A.Moneim , Friday 11 Feb 2022

The board of directors of the European Bank for Reconstruction and Development (EBRD) approved on Thursday its country strategy for Egypt through 2027.


The strategy focuses on three key priorities in line with Egypt’s current reform programme that centres on the structural reforms.

This strategy includes promoting a more inclusive economy for Egyptian businesses, women and young people, accelerating Egypt’s green economy transition, and boosting the country’s competitiveness by supporting private-sector growth and strengthening governance.

Since 2021, the EBRD has invested over €8.7 billion in 145 projects in Egypt, with 76 percent allocated to the private sector.

Over the past decade, EBRD involvement in the Egyptian market has ventured into renewable energy, sustainable infrastructure, strengthening the competitiveness of the private sector (including small companies), as well as promoting greater job and training opportunities for women, young people and people in remote areas.

Half of the EBRD’s investments in Egypt are in sustainable infrastructure, contributing to the green economy and promoting energy efficiency.

The EBRD also launched the first sector-skills platform in Egypt, easing access to training and work-based learning opportunities for young people.

For her part, Heike Harmgart, the EBRD Managing Director for the Southern and Eastern Mediterranean Region, stated that through the new strategy the bank will continue to couple its investments with strong policy engagement for the sake of facilitating greater private-sector participation and enhanced corporate and economic governance in the public sector.

“Green transformation is a priority for the EBRD and for Egypt, which will host COP27 this year. Boosting the green economy, we aim to increase our support through a variety of instruments,” Harmgart explained.

Egypt’s Minister of International Cooperation Rania Al-Mashat said that said this strategy is the outcome of extensive consultations with stakeholders and is in line with national priorities, particularly achieving inclusive and sustainable growth, accelerating the pace towards a green economy, enhancing competitiveness and encouraging private sector’s engagement in development.

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