Monday 05/May/2025 – 04:28 PM
Dr. Mustafa Madbouly, Prime Minister, received today; Odil Renault Basso, President of the European Bank for Reconstruction and Development, and the accompanying delegation at the government headquarters in the new administrative capital, during her official visit to Egypt.
The size of the European Bank activity
After the meeting, which was attended by Dr. Rania Al -Mashat, Minister of Planning, Economic Development and International Cooperation and the Governor of Egypt to the European Bank for Reconstruction and Development, Odel Renault Basso, and Minister of Planning, Economic Development and International Cooperation made television statements.
Dr. Rania Al -Mashat, at the beginning of her television statements, indicated that it was confirmed during the Prime Minister’s meeting with Odel Renault Basso, today; On the strong relations that link Egypt with the European Bank for Reconstruction and Development, those relations that started since 2015, and the size of a portfolio during this period, reached more than 14 billion euros, pointing in this regard to the strategic relations that also link Egypt to the European Union, and the European Bank for Reconstruction and Development considering a corner stone in the development and promotion of these strategic relations.
The Minister of Planning, Economic Development and International Cooperation noted that more than 90% of the size of the European Bank for Reconstruction and Development in Egypt is with various private sector institutions, stressing the government’s intention to achieve economic growth driven by private sector institutions, and here the role of the European Bank and its provision of an important opportunity appears in many sectors of importance, noting in this regard that the bank succeeded only last year in financing 1.5 billion euros for investments for the sector The private, which would contribute to attracting more companies and investors, considering that providing financing is one of the strengths to attract investments by filling resources from various international financing institutions, which are low -cost resources compared to funds from various global markets, and therefore it is a great opportunity for the Egyptian and foreign private sector to invest in many sectors of importance, such as food sectors, agriculture, manufacturing, and new energy And renewed.
The Minister pointed out that the European Bank for Reconstruction and Development with a number of international financing institutions operating in Egypt, such as the International Finance Corporation, the European Investment Bank and other institutions and organizations working in this regard, which is also a strength.
The Minister pointed out what the European Bank for Reconstruction and Development has recently done to expand its activity on the African continent, confirming Egypt’s support for this important step, because the bank can be funded for the private sector in Africa, and she explained that this matter is one of the goals of the Egyptian state in the current stage, by strengthening and increasing economic activity with the brothers in the African continent and expanding the scope of cooperation and regional coordination, praising the important role represented by the bank As a major platform to support this cooperation.
Dr. Rania Al -Mashat explained that during the meeting that took place with the President of the European Bank for Reconstruction and Development, the latest developments and indicators of the Egyptian economy were reviewed, stressing that the Egyptian economic activity has become mainly dependent on non -petroleum manufacturing industries, which is an important development, and this is in addition to the remarkable growth in the tourism sector indicators, the telecommunications sector and the information technology, as this attributed to the ceiling of spending and external loan boundaries, This provides more space for the private sector, especially in investments in GDP, which is reinforced by the available financing from the European Bank for reconstruction and development.
The Minister of Planning, Economic Development and International Cooperation reaffirmed the importance and timing of the annual visit of the bank’s president, praising the big and prominent role of the bank in launching the digital platform of the “Novey” program, which mobilizes private sector funds in food, water and new and renewable energy projects, where cooperation with the bank began in 2022, and during two and a half years, funds were provided from the private sector that exceeded 4 billion dollars in the new energy sector. And renewed, confirming its happiness in cooperation and partnership with the bank, noting that the bank is considered a “Navi” platform to be a role model for other countries.
Dr. Rania Al -Mashat, Minister of Planning, Economic Development and International Cooperation and the Governor of Egypt to the European Bank for Reconstruction and Development; Odil Renault Basso, President of the European Bank for Reconstruction and Development, at the Ministry’s headquarters in the new administrative capital, as part of its official visit to Egypt.
The European Bank invests 86 billion pounds
The meeting witnessed the discussion of the preparations of the annual meeting and the business forum for the year 2025 from May 13 to 15 in London, and the activities it includes that would enhance cooperation between the Egyptian government and the bank in multiple fields, within the framework of the strategic partnership between the two sides, where Egypt is one of the first institutions of the bank, and it is one of the largest operating countries in the world, in addition to researching the current and future cooperation portfolio between Egypt and the bank, and enhancing investment In private sector projects.
