CAIRO - 8 October 2020: Minister of International Cooperation Rania el Mashat has said that Egypt supports the 2021-2025 new strategy of the European Bank for Reconstruction and Development (EBRD) to adopt green economy and achieve sustainable development.
Mashat made the remarks during her participation in the annual meeting of the EBRD's board of governors, where Egypt was selected as the bank's largest country of operations for the second year in a row, the Ministry of International Cooperation said in a statement on Thursday.
The EBRD's new strategy is based on reducing carbon emissions to strengthen sustainable development, providing equal opportunities and empowering women, as well as applying digital transformation, the statement added.
During her speech, the international cooperation minister lauded the strategic ties with the EBRD, noting that the bank had pumped investments worth 1.2 billion euros in 23 projects in Egypt, the statement read.
The EBRD's investments are channeled to the sectors of renewable energy, infrastructure, small and medium-sized enterprises and the economic empowerment of women, she added.
Mashat called on the EBRD to boost multilateral cooperation with other development partners to achieve the integration required to back government strategies.
She explained that the EBRD could play a greater role in providing funding for infrastructure projects in African countries, so that they could see an economic growth.