Egypt, EBRD review ’24 energy sector progress

Egypt’s Minister of Planning and Economic Development, Rania Al-Mashat, held a meeting with Odile Renaud-Basso, President of the European Bank for Reconstruction and Development (EBRD), to review progress made in 2024, particularly in the energy sector under NWFE programme.

The meeting discussed efforts to secure financing for renewable energy projects totalling 4,200 MW. Al-Mashat praised the EBRD’s role in supporting both domestic and foreign private sector investments through accessible financing, highlighting that 98 per cent of the bank’s investments in 2024 went to the private sector.

She emphasised the ongoing collaboration to secure innovative financing for the programme’s energy projects, aiming for 10 GW. Since becoming a fully operational country in 2012, Egypt has received over €13.8 billion in EBRD investments, making it the top recipient in the Southern and Eastern Mediterranean region over the past seven years.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama

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