Egypt's Al-Mashat To Serve As Vice-Chair At EBRD Annual Meetings In Yerevan
Date
5/15/2024 1:13:49 AM
(MENAFN- Daily News Egypt)
Egypt's Minister of International Cooperation, Rania A. Al-Mashat, will serve as Vice-Chair of the 33rd annual meeting of the European bank for Reconstruction and Development (EBRD), held in Yerevan under the theme“Together For Impact.”
The three-day meeting includes senior EBRD leadership, including President Odile Renaud Basso, the Bank's Board of Governors, CEOs participating in the Business Forum, and representatives from development partners and civil society.
Al-Mashat stressed the importance of the meeting in light of the strategic development of the partnership between Egypt and the European Union, particularly following the decision to further enhance relations during the recent Egyptian-European Summit.
“The EBRD is one of Egypt's main development partners,” Al-Mashat said, noting that 80% of the bank's investment portfolio in Egypt is directed to the private sector. Since 2012, the EBRD has invested more than €12 billion in 174 projects in Egypt, with more than 80% of those funds going to the private sector.
Al-Mashat's agenda includes numerous meetings and roundtables, reflecting the growth in Egyptian-European relations since the joint summit last March and the signing of the declaration elevating the relationship to a strategic partnership. A special session on investment prospects in Egypt will be held, and several Egyptian banks will be awarded EBRD prizes.
The Minister is scheduled to participate in the annual donors' meeting, hold discussions with EBRD President Basso, meet with officials from the European Investment Bank, and conduct bilateral meetings with officials from the governments of Armenia and Romania.
The EBRD's Board of Governors will discuss various issues, including the re-election of the bank's president, the bank's 2030-2026 strategy, capital increases, and the expansion of operations in the Sub-Saharan Africa region.
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