Cairo: Prime Minister Moustafa Madbouli praised the longstanding strategic relations between Egypt and the European Bank for Reconstruction and Development (EBRD) which contributed to financing numerous development projects and supporting the private sector as a key pillar of economic growth.

According to State Information Service Egypt, this commendation came during Madbouli's meeting with Greg Guyett, First Vice President of the EBRD. The meeting was also attended by Rania al Mashat, Minister of Planning, Economic Development and International Cooperation, Mahmoud Essmat, Minister of Electricity and Renewable Energy, and Hossam Heiba, CEO of the General Authority for Investment and Free Zones. Madbouli emphasized the government's commitment to enhancing cooperation with the bank through new agreements in priority sectors.

He pointed out that since 2012, Egypt has been the EBRD's largest country of operations in the Southern and Eastern Mediterranean region for the seventh consecutive year and now ranks third globally in terms of the bank's annual investments. During the meeting, Mashat praised the ongoing cooperation within the 'NWFE' (Nexus of Water, Food, and Energy) platform. She stressed the importance of continued joint work to advance sustainable development efforts and support the Egyptian private sector.

Mashat also expressed her hope for expanded collaboration in carbon-emission reduction, mentioning the signing of six agreements and memoranda of understanding with several government entities to support the energy and electricity sectors and promote investment opportunities. Meanwhile, Guyett stated that his visit to Egypt underscores the significant importance the bank places on the Egyptian market.