EBRD seeks to expand investment in Egypt across energy, industry

The European Bank for Reconstruction and Development (EBRD) is seeking to expand investment in Egypt, particularly in renewable energy, electricity networks, fertilisers, agriculture, and food industries, the Egyptian foreign ministry said on Wednesday.

Foreign Minister Badr Abdel-Atty met EBRD Vice President for Policy and Partnerships Mark Bowman in Cairo to discuss strengthening the bank’s partnership with Egypt and expanding cooperation in sectors identified as priorities by the government, the ministry said.

Abdelatty praised the EBRD’s role in supporting Egypt’s economic development and structural reforms, noting that Egypt is the bank’s largest country of operations in the Southern and Eastern Mediterranean.

He called for expanding EBRD projects in Egypt, particularly those supporting the private sector in energy, renewable energy, infrastructure, and financial services, as well as efforts to improve Egyptian products’ access to European markets.

The two sides also discussed continued EBRD support for energy projects under Egypt’s National Green Projects Platform (NWFE), which aims to mobilise concessional financing for green projects, and accelerate the country’s transition to renewable energy and improve energy security.

Abdel-Atty also called for a faster, more flexible EBRD response to regional economic challenges, citing developments affecting energy and food security, supply chains and international trade.