Minister of Investment and International Cooperation, Sahar Nasr, on Thursday received a delegation from the European Bank for Reconstruction and Development (EBRD) to discuss increasing cooperation between Egypt and the Bank in renewable energy and transport projects.
The EBRD delegation, headed by First Vice President and Head of Client Services Group Jürgen Rigterink, also addressed promoting economic integration in the African continent under Egypt’s presidency of the African Union this year.
Egypt is looking forward to enhancing cooperation and partnership relations with the EBRD in areas, such as transport, metro and rail development, small and medium enterprises, and electricity through increasing private sector financing, the minister said.
The Bank’s First Vice President praised the successful partnership between Egypt and the EBRD, which resulted in Egypt being chosen as the Bank’s largest operation country in the world, in light of the success stories achieved by Egypt on the economic level, especially in infrastructure projects.
He pointed out that the EBRD is committed to supporting Egypt in its reform efforts, which its investments amounted to about €5.3bn in 99 projects and the share of the private sector constituted 58% of the total investments.As well as, the Bank’s investments in Egypt are more than 50% of its investments in Africa.
“The Bank is keen to increase its investments in Africa, and to identify investment opportunities in the continent, especially in infrastructure projects during the Bank’s participation in the Forum for Africa 2019, which is held under the auspices of President Abdel Fattah Al-Sisi, during the period from 22 to 23 November in the New Administrative Capital,” Rigterink noted.