Al-Mashat Discusses Second Phase of €4 Billion EU Economic Support & Investment Policies

Dr. Rania Al-Mashat, Egypt's Minister of Planning, met with Celine Emart from the European Parliament to discuss the second phase of a €4 billion economic support mechanism. 

They discussed the significant progress in Egyptian-European cooperation over the past year, including the Egyptian-European summit and the approval of a €7.4 billion financial package.

During the meeting, Dr. Al-Mashat highlighted the structural reforms that Egypt has undertaken which have bolstered economic stability and confidence in the business community. 

They discussed enhancing cooperation with the EU, especially in renewable energy and encouraging private sector participation. The partnership with the EU is seen as strategic for promoting sustainable development and regional stability.

Key areas of cooperation include transportation, water, agriculture, SMEs, renewable energy, social protection, governance, civil society, and capacity building. 

They also discussed investment guarantees under the European Fund for Sustainable Development Plus (EFSD+) worth €1.8 billion aimed at increasing investment in priority sectors like renewable energy. The Ministry of Planning is working to maximize the benefits of these investment guarantees and inform national entities and the private sector on their utilization.