EBRD bank praises Egyptian reforms efforts – official

President of the European Bank for Reconstruction and Development (EBRD) Suma Chakrabarti has praised the EBRD’s successful partnership with Egypt, which has become one of the top countries for EBRD operations in the world.

Chakrabatri made the statements during a meeting with Egypt’s Minister of Investment and International Cooperation Sahar Nasr held on the sidelines of the World Bank and the International Monetary Fund’s annual meetings in Washington.

Chakrabatri said that the EBRD is eager to increase cooperation with Egypt to enhance economic integration in Africa through increasing bank investment flows to Egypt, especially in the infrastructure sector.

“The bank is committed to supporting Egypt’s reform efforts. EBRD investments in Egypt have reached $5 billion, 58 percent of which are injected into the private sector,” he said, adding that 50 percent of EBRD operations in Africa are in Egypt.

Minister Nasr called on Chakrabatri to participate in the Invest for Africa Forum, which is scheduled to be held in Cairo in November, adding that Egypt is looking forward to increasing cooperation with the EBRD in transport, railways, and the SME sector.

Source: Ahram Online