The European Bank for Reconstruction: We look forward to cooperating with Egypt in infrastructure and utilities

The European Bank for Reconstruction: We look forward to cooperating with Egypt in infrastructure and utilities
The European Bank for Reconstruction: We look forward to cooperating with Egypt in infrastructure and utilities

Dr. Hala Al-Saeed met with Mr. Alain Bello, Vice President of the European Bank for Reconstruction and Development and his accompanying delegation, to discuss areas of joint cooperation and discuss the new country strategy with the Bank 2021-2026.

The meeting was attended by Dr. Ahmed Kamali, Deputy Minister of Planning, Dr. Nada Masoud, Economic Advisor to the Minister of Planning, Ambassador Hazem Khairat, supervisor of the International Cooperation Office at the ministry, and a delegation from the Ministry of International Cooperation.


Meeting of the Ministry of Planning

During the meeting, Dr. Hala Al-Saeed affirmed the Egyptian government’s keenness to make progress with regard to the new strategy of the European Bank for Reconstruction and Development 2021-2026, explaining that the priorities set by the bank in its strategy are in line with the priorities of the Egyptian government at the present time.

Dr. Hala Al-Saeed indicated that Egypt seeks to shift towards a green economy, which has become a top priority for the state, noting that the plan for the current fiscal year includes green projects representing 30% of the total projects to be implemented compared to 15% last fiscal year. That this ratio will reach 50% by 2024/2025. She also noted that Egypt launched its first “green bonds” worth $750 million, as a leading country in this regard in the Middle East and North Africa region.

The Minister of Planning and Economic Development also reviewed, during the meeting, the national program for structural reforms, which is the second phase of the national program for economic and social reform, noting that it focuses on raising the productive and competitive capacity of the Egyptian economy, and aims to achieve comprehensive, balanced and sustainable growth, and change the structure of the economy through increasing the relative weight. Three leading sectors are industry, agriculture, telecommunications and information technology.

On the presidential initiative “A Dignified Life”, Al-Saeed explained that it aims to transform more than 4,500 Egyptian villages into sustainable rural communities, noting that it is the largest development initiative in the world and has a positive impact on reducing poverty rates, and is in line with the seventeen international development goals. sustainable.

For its part, the EBRD delegation affirmed their aspiration to cooperate with the Egyptian government, especially in the areas of infrastructure and utilities, support the competitiveness of the private sector in Egypt and improve access to finance for small and medium enterprises. The economy and green finance and support for Egypt’s efforts in diversifying energy sources, as well as areas of improving governance in the public and private sectors, and capacity building for institutions to improve competition and encourage investment.

 
For Latest Updates Follow us on Google News
 

PREV Meitav Dash Brokerage is considering an issue at a value of NIS 400-500 million
NEXT Watch: 110: 112 Dramatic for Brooklyn over the Knicks