Egypt has strategic partnerships with numerous multilateral and bilateral development partners, including the European Bank for Reconstruction and Development (EBRD); one of Egypt’s most prominent development partners. Through joint cooperation, the EBRD has contributed to financing many projects that have positively reflected on the country’s development efforts. In this Q & A, we are reviewing the most important aspects of this partnership. What is EBRD? The EBRD is a Multilateral Development Bank (MDB) that uses investment as a tool to help build market economies, to support emerging markets achieve growth and development plans, and to push efforts undertaken by the private sector by providing development financing and investments. The EBRD was established in 1991 with the aim of supporting member countries in the transition to open market-based economies. Who are the contributors? The European Union (EU) and European Investment Bank (EIB) contribute to EBRD, alongside 69 countries, including Egypt, a founding member of the bank. Ever since September 2012, EBRD began directing investments in the Southern and Eastern Mediterranean (SEMED) region to include countries of the region as potential areas for the bank’s operations. In that same year in 2012, the EBRD started its development operations in Egypt. By 2015, Egypt became a fully operational country. What are the strategic goals that the EBRD seeks to achieve by financing different countries? The EBRD is operating with a new strategy from 2021 to 2025 that the bank adopted in its annual meetings last October. This new strategy is based on three pillars; supporting the transition to a green economy and promoting environmental sustainability; advocating equal opportunities for both women and men; and a digital transformation. Through the new strategy, the EBRD seeks to become an environmentally friendly bank by increasing the share of green financing to at least 50% of its total financing by 2025 so as to reduce carbon dioxide emissions in the countries it operates in (by between 25 to 40 million tons) during the aforementioned strategy period. Who is the president of the EBRD? Odile Renaud-Basso holds the position of President of the EBRD. She was elected as president at the bank’s 29th Annual Meetings, and she is also the first woman to hold this position. As Director General of the French Treasury, Odile Renaud-Basso oversaw the development of France’s economic policies, and led European and international financial affairs, trade policies, financial regulation and debt management. Prior to that position, she was also the Deputy Director-General of the Caisse des Dépôts, a large French public financial institution. How is the relationship between Egypt and the EBRD managed? In accordance with the Decree of the President of the Republic of Egypt No.303 of 2004, the Ministry of International Cooperation manages the economic relations of Egypt with the EBRD. The decree stipulates that the Ministry should develop and strengthen the economic cooperation between the Arab Republic of Egypt and other countries as well as international and regional organizations; propose the criteria for obtaining external financing and foreign grants; follow-up and monitor national agencies that benefit from foreign financing within the framework of the general economic policy of the country to ensure achieving the economic development goals; and manage the Arab Republic of Egypt’s economic relations with international organizations of economic cooperation, the international financial institutions and specialized agencies of the United Nations. H.E. Dr. Rania A. Al-Mashat, the Minister of International Cooperation is the governor of Egypt at the EBRD. How many EBRD offices are there in Egypt? The first regional office of the EBRD opened its doors in Cairo in 2014 to facilitate the bank’s operations in Egypt; whether for the private sector or for the Government of Egypt; the office encompasses a range of 70 to 80 employees. What is the cooperation portfolio between Egypt and the EBRD? Since the start of its operations in Egypt in 2012, the EBRD has invested over €7.2 billion with the implementation of 127 projects across the public and private sectors. This includes investments in the financial sector, agricultural industries, and manufacturing and services. This is in addition to infrastructure projects in the energy, water, sanitation, and transportation sectors. The current portfolio of projects implemented with the public sector amounts to €1.7 billion. The ongoing cooperation portfolio between the Ministry of International Cooperation and the EBRD amounts to €4.4 billion, financing 106 projects. In the private sector, €2.5 billion is dedicated to 93 projects making up for 58% of the portfolio. In the public sector, €1.9 billion is dedicated to 14 projects making up for 42% of the portfolio. In 2020, Egypt was the EBRD’s largest country of operations in the Southern and Eastern Mediterranean (SEMED) region, accounting for more than €1 billion financing 21 projects; 47% of the bank’s total investments in the region. Egypt was the largest country of operations for two consecutive years in 2018 and 2019. What are the most prominent areas of cooperation between Egypt and the EBRD? The areas of cooperation vary across sectors but the collaborative development efforts aim to advance the national development agenda and accelerate the pursuit of the Sustainable Development Goals (SDGs) in Egypt. This includes improving investment conditions for the private sector with a special focus on Small and Medium-sized Enterprises (SMEs), bettering agricultural trade to ensure food security, modernizing the financial sector to contribute to economic growth, increasing the use of clean and renewable energy, developing energy efficiency, and supporting reform in the transportation and infrastructure sectors while including private sector investment in infrastructure.