Egypt approves EBRD expansion into Sub-Saharan Africa, Iraq
Egypt’s House of Representatives, through its Economic Affairs Committee, ratified on Wednesday the Presidential Decree No. 70 of 2025, formally endorsing the European Bank for Reconstruction and Development‘s (EBRD) decision to extend its operations into Sub-Saharan Africa and Iraq. This approval follows Decisions No. (259) and (260) by the EBRD’s Board of Governors.
Minister of Planning, Economic Development, and International Cooperation, Rania Al-Mashat emphasised the strategic significance of EBRD’s regional expansion. She stated that the EBRD’s broadened reach into Sub-Saharan Africa will unlock the region’s substantial economic potential, leveraging its rich natural resources and skilled workforce.
Minister Al-Mashat highlighted the alignment of such expansion with Egypt’s own commitment to strengthening ties with African nations through both governmental and private sector collaborations. The EBRD’s expanded footprint is expected to facilitate enhanced trilateral and South-South partnerships, enabling Egypt to deepen its engagement with African countries via the bank’s established platforms and financial instruments, she explained.
Egypt-EBRD Robust Partntership
Egypt’s robust partnership with the EBRD, dating back to 1991, has seen significant growth, the minister said. Since becoming a full-fledged country of operations in 2015, following the EBRD’s 2011 expansion into the Southern and Eastern Mediterranean region and the 2014 opening of its Cairo office, Egypt has become the bank’s largest operational base in the region. To date, the EBRD has invested €13.8 billion across 194 projects in Egypt, with a substantial 86 per cent (€11.8 billion) directed towards the private sector, according to the minister.
Minister Al-Mashat also pointed to the current 2022-2027 Country Strategy Partnership Framework, which focuses on fostering inclusive and sustainable economic growth, accelerating the green transition, boosting economic competitiveness, and improving the private sector’s operating environment in Egypt.
The EBRD’s decision to expand its geographical scope was initially made in 2021 and received final approval during the bank’s Annual Governors’ Meetings in Samarkand.
Attribution: Amwal Al Ghad English
Subediting: Y.Yasser