Economic Reform Strengthened Egypt's Capabilities against Pandemic - Mashat 

Rania Al-Mashat, Minister of International Cooperation said on Thursday that reforms in Egypt are continuing and should not be stopped, whatever the challenges.

Al-Mashat said that the economic reform program, which Egypt started in 2016, supported the state's capabilities against the repercussions of the pandemic.

This came during her participation, as Egypt's governor at the bank, in a session held within the framework of the annual meetings of the European Bank for Reconstruction and Development (EBRD),

Mashat pointed out that the country is preparing to implement the second phase of structural reforms with EBRD.

The session dealt with ways to mitigate the economic and social repercussions of the virus and the importance of strengthening multilateral cooperation to ensure a sustainable recovery.

EBRD responded to the coronavirus pandemic with record investment of €11 billion in 2020 through 411 projects, addressing the urgent needs of the 38 economies where it invests. This represents a 10% increase in annual business investment relative to 2019, when the Bank provided €10.1 billion to finance 452 projects.

The bank has responded to the coronavirus pandemic with a record investment of €11 billion in 2020 through 411 projects, to meet the urgent needs of the 38 economies, representing a 10% increase in annual investment compared €10.1 billion in 2019, funding 452 projects.