Egypt To Host Annual EBRD Meetings In 2027 In Sharm El-Sheikh
Date
5/19/2024 2:14:16 PM
(MENAFN- Daily News Egypt)
Egypt's hosting of EBRD meetings is extension of its leadership in organising many international events, most notably COP27: Al-Mashat
Rania Al-Mashat, Minister of International Cooperation and Governor of Egypt at the European bank for Reconstruction and Development (EBRD), has announced that Egypt will host the annual meetings of the bank in 2027, following approval by the Board of Governors.
The choice of Egypt as the host country reflects its strategic significance within the bank. As one of the founding nations of the EBRD, Egypt plays a vital role and is among the largest countries in terms of operations worldwide.
Al-Mashat emphasized Egypt's strong cooperation with the EBRD, resulting in a cooperation portfolio exceeding €12bn since 2012. This substantial support has significantly benefited the Egyptian economy and provided momentum to the private sector. Over 80% of this cooperation is directed toward both local and foreign private enterprises, contributing to the growth of various economic sectors.
Egypt's successful track record in organizing international events at the highest levels played a crucial role in securing the 2027 meetings. The country has hosted the Egypt International Cooperation Forum, multiple editions of the annual meetings of the African Development Bank (AfDB), and even supervised COP27. Additionally, this year, Egypt will host the Arab annual meetings for financial institutions and bodies in May.
As a key gateway to the Middle East and Africa, Egypt's selection aligns with the EBRD's strategy to expand in sub-Saharan Africa and the Middle East. The inclusion of new countries, such as Iraq and Benin, underscores Egypt's commitment to regional cooperation and“South-South” collaboration, particularly with the African continent.
Egypt aims to organize the meetings meticulously, drawing from its extensive experience in hosting international events. These gatherings play a pivotal role in supporting Egypt's efforts in international cooperation and development financing, fostering stronger ties with the EBRD and advancing collaboration across Africa.
Minister Al-Mashat actively participated in the annual meetings of the EBRD, serving as Governor of Egypt and assuming the position of Vice-Chairman of the Board of Governors during the current sessions.
MENAFN19052024000153011029ID1108231756
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.