Egypt holds talks with EBRD to boost investment in oil, mining sectors

Egypt’s Petroleum Minister Karim Badawy held talks with a high-level delegation from the European Bank for Reconstruction and Development (EBRD) on Wednesday to explore financing and investment opportunities in the country’s oil and mining sectors, the ministry said.

The delegation included Natalia Lacorzana, Director and Head of Natural Resources; Amr Salem, Egypt Investments Lead for Oil and Gas, Biofuels, and Mining; and Menna Zekrallah, EBRD Deputy Head of Egypt. The meeting follows recent discussions in London and underscores Egypt’s focus on strengthening partnerships with major international financial institutions.

The talks addressed potential cooperation on specific projects, including financing Egypt’s planned national aerial survey to map mining potential across the country. The officials also discussed ways to enhance the investment climate in the oil and mining sectors through innovative financing mechanisms aimed at attracting both domestic and international companies.

Minister Badawy highlighted opportunities for collaboration on upgrading the digital infrastructure of the Mineral Resources Authority, developing an advanced energy efficiency database, and rolling out training programmes for staff in the mining sector.

Lacorzana noted EBRD’s strong track record in Egypt’s oil sector, including technical and financial support for energy efficiency projects, carbon reduction initiatives, and human capital development. She also emphasised the bank’s readiness to support Egypt’s sustainable aviation fuel project, the first of its kind in the country and region.

Attribution: Amwal Al Ghad English