Cairo: Minister of Planning, Economic Development, and International Cooperation Rania A. Al-Mashat met with Dubravka Šuica, the EU Commissioner for Mediterranean Affairs, alongside Angelina Eichhorst, EU Ambassador to Cairo, and representatives from the European Investment Bank and the European Commission. The discussion focused on enhancing economic ties between Egypt and the European Union, emphasizing the strategic partnership shared by the two entities.
According to State Information Service Egypt, Minister Al-Mashat expressed her appreciation to Commissioner Šuica, congratulating her on her new role. She highlighted the significance of the EU’s commitment to strengthening relationships with Mediterranean countries, underscoring Egypt’s pivotal role in fostering the Euro-Mediterranean partnership. The minister outlined a strategic framework aimed at bolstering bilateral relations across six key areas: politics, economy, trade, security, migration, and human development.
Minister Al-Mashat stressed the
importance of advancing these pillars to align mutual development priorities, noting the favorable political climate between Egypt and the EU. She revealed that the strategic partnership incorporates a development financing package totaling 7.4 billion Euros for the period 2025-2027, aimed at economic stability and investment stimulation.
The minister detailed ongoing coordination with other ministries to design programs funded by European grants, ensuring alignment with Egypt’s national priorities. She also mentioned structural reforms supported by the EU’s “Macro-Economic Support and Budget Support Mechanism,” with a total funding commitment of 5 billion Euros over two phases.
Discussions also explored integrating the private sector into the investment framework, utilizing 1.8 billion Euros in guarantees from the EU under the European Fund for Sustainable Development Plus (EFSD+). These funds are intended to support sustainable development initiatives and enhance private sector participation in economic a
ctivities.
Minister Al-Mashat referred to the upcoming launch of the investment guarantee mechanism, which seeks to mobilize around 5 billion Euros in investments, focusing on green transformation and other priority sectors.
Efforts to empower the private sector through the “HAFIZ” platform were also highlighted. The platform offers comprehensive support to enterprises of all sizes, facilitating access to services from development partners.
The meeting addressed blended financing mechanisms supporting vital sectors like transport infrastructure, water projects, sustainable agriculture, and clean energy. These programs aim to enhance social solidarity, transparency, and institutional capacities while supporting vulnerable groups and civil society organizations.
Regional cooperation was another focal point, with discussions on enhancing collaboration among Mediterranean countries in line with global economic trends and technological advancements. Newly funded European Commission programs that Egypt could le
verage were also reviewed.
Minister Al-Mashat concluded by underscoring the government’s commitment to economic and structural reforms, particularly focusing on governance and enhancing public investment efficiency to bolster private sector involvement in development initiatives.