This came during a meeting with the Head of the European Union (EU) Delegation to Egypt, Ambassador Christian Berger, on Wednesday at the ministry's headquarters in the New Administrative Capital, the ministry said in a statement.

According to the statement, Al-Mashat noted during the meeting that the current phase of cooperation is particularly significant as it aligns with Egypt’s investment plans and future strategic priorities.

The ministry, she added, is committed to enhancing relationships with multilateral and bilateral development partners to support Egypt’s national development vision, improve project efficiency, and bolster macroeconomic stability through targeted economic reforms. The statement went on to say that, according to Al-Mashat, key areas of collaboration include investments in human capital and industrial development.

This collaboration between the EU and Egypt follows the recent merger of the Ministry of Planning with the Ministry of International Cooperation to streamline public investments and concessional development financing.

According to the ministry's statement, the meeting with Berger also focused on deepening strategic cooperation, evaluating ongoing EU-funded projects, exploring future grant and investment guarantee programs, and reinforcing mechanisms for macroeconomic stability.

Advancing Economic and Social Development
 

Al-Mashat also acknowledged the vital role of the EU and other development partners in advancing Egypt’s economic and social development plan. This support includes grants, concessional financing, and technical assistance across various sectors such as housing, utilities, energy, environment, local development, supply, health, and capacity building.

Furthermore, the statement pointed out that Al-Mashat discussed with Berger the progress of the current EU cooperation portfolio, which aligns with the Sustainable Development Goals (SDGs).

Governance of Public Investment and Encouraging Private Sector Participation
 

According to the statement, Al-Mashat further highlighted ongoing efforts to enhance the governance of public investment spending in line with the Prime Minister’s directives. This includes re-evaluating investment priorities in collaboration with local governments and relevant authorities to increase private sector engagement and attract domestic and foreign investments.

The Ministry of Planning, Economic Development, and International Cooperation focuses on strengthening collaborations with development partners to align these partnerships with Egypt’s investment plan, thus improving overall economic stability, read the statement.

Moreover, the discussions between Al-Mashat and Berger addressed the first phase of the Macro-Financial Assistance (MFA) program, which aims to reduce budget deficits and implement structural reforms to foster greater private sector involvement in Egypt’s development, the statement quoted Al-Mashat as saying.

The partnership with the (EU) continues to be instrumental in lowering the cost of financing for private-sector renewable energy projects through a combination of grants and concessional funding, according to Al-Mashat.

In March, the EU pledged a financing package for Egypt worth around $8 billion to support the country’s economy amid unprecedented global and geopolitical tensions.

This support came as part of the international financial institutions' (IFIs) support of the country, which includes raising the International Monetary Fund (IMF) ongoing loan deal from $3 billion to $8 billion.