Prime Minister Mostafa Madbouly said that Egypt has a real success story with the European Bank for Reconstruction and Development (EBRD), as its financing contributed to the implementation of distinguished development projects over the past years.
This came during Madbouly's meeting with Odile Renaud-Basso, President of the European Bank for Reconstruction and Development, who is currently visiting Egypt, in the presence of Rania Al-Mashat, Minister of International Cooperation.
The meeting touched on a number of other priority issues, on which cooperation with the bank could be increased, including water desalination and digital transformation.
He added that the program of structural reforms includes important measures regarding the adoption of the green economy strategy, especially since Egypt has already become one of the leading countries in the region in the new and renewable energy sector.
He explained that environment and climate change issues are no longer a luxury, and the Egyptian state is paying attention to these topics, as the prime minister presides over the National Council for Climate Change, which is currently working on formulating a national strategy on climate and environment issues.
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PM during a meeting with EBRD President Odile Renaud-Basso, in the presence of Rania Al-Mashat, Minister of International Cooperation. April 22. (File Photo)[/caption]
On her part, Renaud-Basso praised the strong performance of the Egyptian economy during the last period, especially after Egypt became one of the few countries that succeeded in achieving a positive growth rate during the pandemic, adding that this success is a result of the economic reforms which have been implemented since 2016.
Basso commended Egypt for giving attention to the file of green economy and renewable energy, stressing the bank’s intention to continue supporting Egypt in all those areas that serve the sustainable development goals (SDGs).
In turn, Al-Mashat indicated that Egypt's agreement with the International Monetary Fund (IMF) in 2020 focused on structural reforms, which reflects the government's commitment to enhance financial and monetary policies.
She confirmed Egypt's intention to increase its cooperation with the bank during the coming period, especially in implementing projects that support the green strategy, water desalination, and other priority files.
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