Egypt’s parliament endorses EBRD expansion into Africa, Iraq

Egypt’s House of Representatives approved Presidential Decree No. 70 of 2025, endorsing amendments to the European Bank for Reconstruction and Development’s (EBRD) establishment agreement, allowing the bank to expand operations into sub-Saharan Africa and Iraq.

The amendments, outlined in EBRD Board of Governors’ Decisions No. 259 and 260, also remove legal restrictions on capital for regular operations.

Minister of Planning, Economic Development, and International Cooperation, and Egypt’s Governor at the EBRD Rania Al Mashat affirmed Egypt’s support for the bank’s geographical expansion, emphasising its role in fostering economic growth and development in new markets.

Attribution: Amwal Al Ghad English
Subediting: M. S. Salama