Rania Al-Mashat, Egypt's Minister of Planning, Economic Development and International Cooperation, met with a delegation from the European Union, headed by Florian Ermacora, Head of the North Africa Unit at the Directorate-General for Neighborhood and Enlargement Negotiations at the European Commission, and other officials.
The meeting discussed ongoing cooperation topics and programs, discussed ways to enhance cooperation, and activated the investment guarantee mechanism that was announced within the framework of upgrading the partnership with the European Union last March.
During the meeting, Rania Al-Mashat praised the strategic and comprehensive partnership between the Arab Republic of Egypt and the European Union, which defines strategic priorities and objectives to enhance joint efforts towards achieving development, stressing that this partnership ensures alignment with Egypt's national priorities while addressing emerging needs, which enhances a coherent and future framework for cooperation.
She added that the European Union is a strategic partner for Egypt in development, as it contributes to supporting the implementation of priority projects in a wide range of fields, noting that the total current portfolio of the European Union in Egypt has reached about 1.8 billion euros in grants and blended financing.
The meeting also discussed the investment guarantee mechanism available through the European Fund for Sustainable Development Plus (EFSD+), which comes within the financing package signed between Egypt and the European Union last March, and the two sides discussed the proposed projects and programs to benefit from these guarantees.
The meeting also discussed the possibility of organizing a workshop in Egypt to introduce the European Fund for Sustainable Development Plus (EFSD+), which provides an opportunity to explore its mechanisms and potential benefits for relevant parties.
Al-Mashat also commended the ongoing cooperation through current programs funded through blended financing to support various sectors, including transportation, water, agriculture, small and medium enterprises, renewable energy, social protection, governance, civil society and capacity building.
In the same context, the Minister of Planning, Economic Development and International Cooperation referred to the efforts made by the Ministry to empower the private sector through the "Hafez" platform for financial and technical support to the private sector, and also touched on the projects included in the "Nawafi" program and mechanisms for mobilizing development funding and private sector investments to support the green transformation in Egypt.
The meeting discussed the ongoing cooperation under the comprehensive strategic partnership between Egypt and the European Union, which amounts to approximately 7.4 billion euros distributed across six shared priorities, including strengthening political relations, enhancing economic stability, promoting investment and trade, as well as strengthening migration and mobility frameworks, enhancing security, and developing citizen-focused initiatives such as skills development and education.
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