EBRD invests $10B in Egypt in 10 years: Basso at Egypt-ICF2022

CAIRO - 8 September 2022: The European Bank for Reconstruction and Development (EBRD) only started working in Egypt 10 years ago, President of the EBRD, Odile Renaud-Basso stated.

 

Basso added during her speech at Egypt International Cooperation Forum (Egypt-ICF2022) that since then the EBRD has invested almost $ 10B in Egypt across a very wide range of sectors.

 

"The EBRD helped Egypt green its economy and generate growth and opportunities for its citizens across the country," she added.

 

According to Basso, the EBRD recently approved Country Strategy has three main priorities at its heart: the promotion of a more inclusive economy for Egyptian businesses, women and youth, accelerating Egypt’s green transition and enhancing Egypt’s competitiveness.

 

This forum allows us to enrich and develop those efforts, and to learn from so many valued partners.

 

Egypt-ICF 2022, which kicked off on Wednesday  60 days ahead of COP27, is a platform to discuss the mechanisms of achieving the fair green transition in Africa.

Egypt-ICF 2022 Core Objectives include ensuring the coherence between the situation of the African climate financing with the continent actual needs, giving the priority to for the procedures that African countries can execute with supporting increasing the climate finances, and showcasing the successful development experiences while supporting the fresh initiatives and the doable policies in terms of climate adaptation and mitigation.