Egypt’s FM meets with President of European Bank for Reconstruction and Development

CAIRO – 19 May 2026: Egypt’s Foreign Minister Badr Abdelatty met with Odile Renaud-Basso, President of the European Bank for Reconstruction and Development (EBRD), on Tuesday on the sidelines of his official visit to London.

During the meeting, the Foreign Minister expressed his appreciation for the existing partnership between Egypt and the EBRD, emphasizing the importance of the Bank’s role in supporting Egypt’s development priorities and economic reform.

He also expressed hope that the Bank would continue expanding its activities and operations in the Egyptian market, particularly in priority sectors.

Minister Abdelatty affirmed the Egyptian government’s commitment to continuing the implementation of its economic reform program to achieve inclusive and sustainable growth. He noted that the reform efforts are based on several key pillars, including strengthening the role of the private sector, maintaining fiscal discipline, and improving the sustainability of public debt.

He also reviewed the promising investment opportunities offered by the Egyptian market in several sectors, most notably new and renewable energy, communications and information technology, artificial intelligence, and the automotive industry, particularly electric vehicles. He emphasized the importance of the Bank’s continued and expanded involvement in these sectors.

The meeting also addressed the repercussions of military escalation in the region on the global economy. Minister Abdelatty explained that the state’s approach to the current challenges is based on three main pillars: securing energy supplies, enhancing food security, and maintaining fiscal discipline.

He added that proactive measures are being taken to mitigate the economic impact of crises and preserve financial stability, stressing the importance of the Bank playing a more flexible and responsive role in supporting member states in dealing with the repercussions of the current crisis.

The President of the European Bank praised the package of economic and structural reforms implemented by the Egyptian government, as well as Egypt’s economic performance amid current regional and international challenges. She noted that these reforms have contributed to strengthening financial and monetary stability, improving the investment climate, and supporting efforts to promote economic empowerment and social protection, reflecting the state’s commitment to continuing its comprehensive reform agenda.

The President also affirmed that the Egyptian economy has demonstrated resilience in the face of the repercussions of regional escalation, thanks to structural reforms and the adoption of a flexible exchange rate system. She expressed her appreciation for Egypt’s pivotal regional role, which reinforces its position as a key partner in addressing shared challenges and achieving sustainable development in the region.