EBRD President Renaud-Basso pays first visit to Egypt

By Nibal Zgheib

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  • President to meet with Egyptian authorities and business community
  • EBRD supporting Egypt’s economy and reform plans
  • Agreements boosting the country’s green economy to be signed

For the first time since her election as head of the European Bank for Reconstruction and Development (EBRD), President Odile Renaud-Basso will visit Egypt in person on 21 and 22 April for high-level meetings with the authorities and the business community.

Ahead of her visit, President Renaud-Basso, said: “Egypt was one of the few countries that did not plunge into recession last year due to the coronavirus pandemic. However, Egypt was hit hard. The EBRD is committed to supporting the country in these challenging times to help overcome the economic setbacks and to continue delivering on reforms in order to achieve a sound, sustainable and inclusive recovery.”

During her visit, the EBRD President will meet the President of Egypt, Abdel Fattah El-Sisi, Prime Minister Mostafa Madbouly, Minister of International Cooperation and EBRD Governor, Rania Al-Mashat, Minister of Electricity and Renewable Energy, Mohamed Shaker, Minister of Housing, Utilities and Urban Communities and Chairman of the New Urban Communities Authority (NUCA), Assem El Gazzar, and Minister of Local Development, Mahmoud Youssry Shaarawy.

President Renaud-Basso will also meet the Governor of Cairo, Khaled Abdel-Aal Abdel-Hafez, Governor of Alexandria, Taher El Sherif, officials from the Egyptian National Railways, and representatives of the private sector, the EBRD’s key business partner in its activities.

Supporting Egypt’s transition to a green economy, the EBRD President will sign agreements to develop sustainable infrastructure and renewable energy in the country.

Egypt is a founding member of the EBRD. Since the start of its operations there in 2012, the Bank has invested close to €7.2 billion in 127 projects in the country.

 

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