Egypt, EU review NWFE green plan, macro-financial assistance talks continue

Egypt’s Planning Minister Rania Al-Mashat held talks with European Commissioner for International Partnerships Jutta Urpilainen to deepen strategic cooperation between Egypt and the European Union, with a focus on green transformation and sustainable development, the Cabinet said in a statement Monday.

The two sides discussed enhancing collaboration under the Team Europe initiative and progress on Egypt’s flagship NWFE Programme, which aims to mobilise investment in water, food, and energy projects as part of the country’s green transition.

Minister Al-Mashat thanked the EU for its growing economic cooperation and the upgrade in ties to a strategic partnership. She underscored the importance of the €4 billion in macro-financial assistance pledged by the EU to support Egypt’s structural reforms and budgetary needs.

The minister noted that technical talks were ongoing to prepare for an EU evaluation mission and to ensure alignment on reform goals that maximise the impact of the financing.

The meeting also reviewed mechanisms to boost private sector investment, particularly the EU’s investment guarantee tools, and explored ways to enhance their effectiveness in attracting European investors to Egypt.

Urpilainen praised Egypt’s leadership on climate and sustainable development across Africa and called the NWFE programme a model for innovative cooperation. She reaffirmed the EU’s commitment to supporting Egypt with concessional finance and technical assistance for its green economy ambitions.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser