Prime Minister Mostafa Madbouly witnessed the signing on Tuesday, according to a cabinet statement.
EBRD Regional Director for the Southern and Eastern Mediterranean Mark Davis signed on behalf of the bank.
The agreements coincided with a two-day EBRD delegation visit to Cairo for talks on boosting the bank’s investments in Egypt and assessing market opportunities.
Grid upgrades and financing
The Egyptian Electricity Transmission Company (EETC) signed an MoU with the EBRD to upgrade the national grid and increase capacity for integrating renewable energy. The deal was signed by EETC chair Mona Rizk in the presence of Electricity Minister Mahmoud Esmat.
Egypt aims to raise output in the electricity sector to EGP 655.6 billion in FY2025/2026, expand coverage to 99.8 percent, and increase annual generation to 235 billion kilowatt-hour (kWh), up from 229 billion kWh two years ago. The plan includes adding 1,200 megawatts of new thermal generation.
Planning, Economic Development, and International Cooperation Minister Rania Al-Mashat also signed a 164 million euro financing agreement with the EBRD for the project’s first phase.
The funds will upgrade an existing 500-kilovolt (kV) substation in Cairo and build a new 200-kilometre 500 kV transmission line to carry renewable energy from the Gulf of Suez. She signed two additional financing agreements worth 35 million euros and 2 million euros.
The EBRD has been a major backer of Egypt’s renewable-energy expansion; in November, it announced an additional $40 million equity investment in Infinity, bringing its total equity stake to $141.5 million.
Egypt has earmarked EGP 136.3 billion for electricity and renewable-energy investments in FY2025/26, with public funds covering 73 percent and the private sector 27 percent.
Private-sector participation and investment promotion
The General Authority for Investments and Free Zones (GAFI) chairman, Hossam Heiba, signed an MoU establishing a cooperation framework with the EBRD to promote investment opportunities and increase foreign direct investment.
Al-Mashat signed another MoU setting out a roadmap to expand private-sector participation in sustainable-development projects and improve access to Hafiz, a platform linking development partners, government agencies, and businesses, including micro, small, and medium enterprises (MSMEs).
GAFI this week launched an electronic platform allowing investors to submit and track applications and conduct financial due diligence online.
MSMEs accounted for 90 percent of Egypt’s private sector, 43 percent of GDP, and 75 percent of employment in 2024.
The MoU also seeks to use national promotional tours to support SMEs, boost competitiveness, and improve access to international markets.
Earlier this week, the National Bank of Egypt and the EBRD signed a $100 million financing agreement for MSMEs, prioritizing youth- and women-owned businesses.
Short link: