CAIRO – 22 January 2025: Egypt’s Prime Minister, Mostafa Madbouly, met on Wednesday with the President of the European Bank for Reconstruction and Development (EBRD), Odile Renaud-Basso, at the second day of the World Economic Forum ‘Davos 2025’, on behalf of President Abdel Fattah El-Sisi in Switzerland.
The meeting was attended by Dr. Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation, and Ambassador Mohamed Negm, Egypt's Ambassador to Switzerland.
The Prime Minister began the meeting by welcoming Odile Renaud-Basso, expressing his appreciation for the successful partnership between the Egyptian government and the European Bank for Reconstruction and Development, which resulted in financing many development projects in the Egyptian market, in addition to the great support provided by the bank to the Egyptian private sector.
Madbouly explained that since 2012, Egypt has become a country of operations for the European Bank for Reconstruction and Development, which contributed to increasing the volume of investments for the public and private sectors to more than 13 billion euros in 194 projects, with more than 80% of these investments directed to the private sector.
He added that In 2024, Egypt became the largest country of operations for the European Bank for Reconstruction and Development in the Southern and Eastern Mediterranean region, for the seventh time in a row, noting that Egypt ranks third in terms of total investments of the European Bank for Reconstruction and Development worldwide after Turkey and Ukraine.
The Prime Minister expressed his appreciation for the efforts of the European Bank for Reconstruction and Development to support the Egyptian economy over the past four years, pointing in this regard to the fruitful cooperation between the government and the bank in the field of renewable energy.
During the meeting, President of the European Bank for Reconstruction and Development, Odile Renaud-Basso praised the efforts of the Egyptian government in promoting the Egyptian economy, reviewing the bank's investments in Egypt and the diversity of its investment portfolio, and confirming that there is an increase in the bank's financing for the private sector in various fields.
The President of the European Bank for Reconstruction and Development stressed that Egypt is one of the bank's most important clients, especially in light of the tangible development witnessed by Egypt in the energy sector, noting that the bank is the main partner in the digital platform of the "Novi" program in the energy axis.
In this regard, Odile Renaud-Basso touched on the financing provided by the bank for private sector projects in the new and renewable energy sector, in conjunction with the bank's continued support for the Egyptian economy and structural reforms to increase private sector investments.
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