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Egypt, EBRD Deepen Strategic Partnership in Green and Sustainable Projects

H-Tayea On the sidelines of the 34th Annual Meeting and Business Forum of the European Bank for Reconstruction and Development (EBRD), Egypt's Minister of Planning, Economic Development and International Cooperation, Rania A. Al-Mashat, held high-level talks with Matteo Patrone, EBRD Vice President for Banking, and Harry Boyd-Carpenter, Managing Director for Sustainable Infrastructure. During the meetings, Al-Mashat emphasized Egypt's strong and evolving relationship with the EBRD, highlighting the Bank's vital role in supporting Egypt's private sector, green transformation, and industrial localization efforts. The discussions focused on deepening cooperation in strategic sectors such as renewable energy, green hydrogen, seawater desalination, and sustainable infrastructure, while also addressing technical support for automotive manufacturing and mechanisms to enhance foreign direct investment (FDI) inflows into Egypt. Al-Mashat noted that Egypt remains the EBRD's largest country of operations in the Southern and Eastern Mediterranean (SEMED) region for the seventh consecutive year. In 2024 alone, the Bank invested €1.5 billion (approximately 84.3 billion EGP) across 26 projects, with 98% directed to the private sector and 50% channeled into green finance. Since the start of EBRD operations in Egypt in 2012, the partnership has grown to include €13 billion in investments (roughly 730 billion EGP) across 194 development projects, with 80% of this financing benefiting the private sector. The Minister also spotlighted Egypt's flagship NWFE platform, under which the EBRD plays a leading role in the energy pillar, having helped mobilize $3.9 billion (about 195 billion EGP) in concessional finance for the private sector, accelerating investments in renewable energy. Al-Mashat stressed the EBRD's role in modernizing Egypt's electricity grid to accommodate future renewable energy capacity, with plans to add 10 gigawatts of renewable energy by 2028, in line with Egypt's integrated and sustainable energy strategy. She reaffirmed the government's continued focus on macroeconomic stability and private sector-led growth, underpinned by structural reforms initiated in March 2024. These reforms have helped deliver strong growth in the non-oil manufacturing, ICT, tourism, and transportation sectors, despite global pressures and declining Suez Canal revenues. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News Egypt confirms denial of airspace access to US B-52 bombers Lifestyle Pistachio and Raspberry Cheesecake Domes Recipe News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Arts & Culture Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War