"Al-Mashat": 

• The EBRD supports efforts to attract investments in the renewable energy, green hydrogen, and water desalination sectors through technical support and financing.

• The private sector is the largest beneficiary of the EBRD's development financing in Egypt, with a rate exceeding 80%.

• Joint efforts with the EBRD to support the state's orientation towards localizing industry.

H.E. Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development and International Cooperation, met with H.E. Mr. Matteo Patrone, Vice President, Banking at EBRD, and H.E. Mr. Harry Boyd-Carpenter, EBRD Managing Director for Sustainable Infrastructure. 

The meeting was during her participation in the 34th Annual Meeting of the Bank and the Business Forum 2025, held from May 13 to 15.

The meetings reviewed joint efforts with the Bank to empower the private sector through numerous diverse projects and programs, particularly in the sectors of seawater desalination, renewable energy, green hydrogen, infrastructure, and other fields, as well as technical support for the automotive manufacturing sector, and the various mechanisms provided by the Bank that improve the business environment and stimulate the attraction of foreign direct investment.

H.E. Dr. Rania Al-Mashat emphasized the depth of relations between Egypt and the European Bank for Reconstruction and Development (EBRD). She noted that the relationship between Egypt and the EBRD has witnessed remarkable progress over the past five years. The two sides have collaborated at various levels to achieve the targeted development rates in Egypt.

H.E. Minister Al-Mashat affirmed that Egypt is the largest country of operations for the EBRD in 2024 in the Southern and Eastern Mediterranean (SEMED) region for the seventh consecutive year, with investments of €1.5 billion, equivalent to (84.3 billion Egyptian pounds), in 26 projects, 98% of which are in the private sector and 50% in green financing. 

H.E. Dr. Al-Mashat added that Egypt is one of the most cooperative countries with the EBRD, as it has succeeded since 2012 in reaching a cooperation portfolio with the Bank of about €13 billion, equivalent to (730 billion Egyptian pounds), for 194 development projects, with 80% of the financing directed to the private sector.

H.E. Minister Al-Mashat also underscored the partnership with the EBRD and other development partners in the energy pillar of the "NWFE" program, which has resulted in mobilizing concessional financing for the private sector worth $3.9 billion, equivalent to (195 billion Egyptian pounds), since the platform's launch. 

This facilitates private sector investments in renewable energy projects. 

H.E. Dr. Al-Mashat pointed out the Bank's contribution to strengthening Egypt's electricity grid to accommodate capacities in the field of renewable energy. She mentioned that efforts are ongoing to mobilize investments to implement renewable energy capacities of 10 gigawatts by 2028, to implement the national integrated and sustainable energy strategy.

H.E. Minister Al-Mashat reiterated the government's commitment to supporting macroeconomic stability and promoting progress towards achieving sustainable growth led by the private sector, through the continued implementation of structural reforms since March 2024. This has been reflected in the growth rates achieved in the first and second quarters of the current fiscal year, led by the non-petroleum manufacturing industries, communications and information technology, tourism, and transportation and storage sectors, despite the decline in Suez Canal activities.