Egypt Seeks to Boost Private Sector Contribution to Economic Development

Egypt Seeks to Boost Private Sector Contribution to Economic Development

The Ministry of International Cooperation in Egypt held a meeting with the European Union and European Investment Bank to discuss the new mechanisms for future cooperation, in an effort to cement economic ties as part of the future cooperation program 2021-2027.

Tuesday’s meeting was chaired by Minister of International Cooperation Rania Al-Mashat. It aimed at discussing mechanisms to increase the contribution of European funding institutions, such as the European Investment Bank, the French Development Agency (AFD), and the German Development Bank (KfW), in boosting the private sector’s contribution to development in Egypt.

The meeting also addressed possible guarantees that can be given to reinforce the funding of the Egyptian private sector, namely in the sectors of renewable energy, transport, SMEs, and telecommunication.