Egypt, EBRD discuss expanding economic cooperation in London

Egyptian Foreign Minister Badr Abdelatty met with Odile Renaud-Basso during his official visit to London to discuss expanding cooperation between Egypt and the European Bank for Reconstruction and Development.

During the meeting, Abdelatty praised the strong partnership between Egypt and the EBRD, stressing the bank’s important role in supporting Egypt’s development priorities and economic reform agenda.

The foreign minister expressed Egypt’s interest in expanding the bank’s activities and increasing investments in the Egyptian market, particularly in strategic sectors with strong growth potential.

Abdelatty reaffirmed the Egyptian government’s commitment to continuing its economic reform program aimed at achieving sustainable and inclusive growth. He explained that the reform strategy focuses on strengthening the role of the private sector, maintaining fiscal discipline, and improving public debt sustainability.

The minister also highlighted promising investment opportunities in renewable energy, information technology, artificial intelligence, automotive manufacturing, and electric vehicles, encouraging the EBRD to increase engagement in these sectors.

The discussions additionally addressed the economic impact of rising regional tensions and military escalation in the Middle East. Abdelatty said Egypt’s response strategy is based on securing energy supplies, strengthening food security, and maintaining financial stability through proactive economic measures.

He stressed the importance of a faster and more flexible role by international financial institutions in supporting member states facing regional economic pressures.

For her part, Renaud-Basso praised Egypt’s economic and structural reform efforts, describing the country’s economic performance as resilient despite ongoing regional and global challenges.

She said the reforms helped strengthen financial and monetary stability, improve the investment climate, and support economic empowerment and social protection programs.

The EBRD president also commended Egypt’s adoption of a flexible exchange rate system and praised Cairo’s regional role in addressing shared economic and development challenges.