Shoukry discusses EBRD funded infrastructure projects in Egypt

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Tue, 20 Jun 2017 - 08:02 GMT

FM Sameh Shokry (R) and Janet Kackmen (L) in a meeting in the Foreign Affairs Ministry headquarter

FM Sameh Shokry (R) and Janet Kackmen (L) in a meeting in the Foreign Affairs Ministry headquarter

CAIRO – 20 June 2017: Minister of Foreign Affairs Sameh Shoukry met with the Managing Director for the Southern and Eastern Mediterranean (SEMED) region at the European Bank for Reconstruction and Development (EBRD) Janet Heckman on Sunday, at the Foreign Ministry, according to Ministerial Sunday press release.

“The meeting discussed plans for further cooperation, EBRD current and future projects in Egypt, especially in the sectors of infrastructure, energy and small and medium enterprises (SMEs),” stated spokesperson for the Foreign Ministry Ahmed Abou Zeid.
The $2.8 million projects aim to achieve sustainable development and maximize investment opportunities in Egypt.

Heckman praised Egypt’s recent economic reform measures, noting that Egypt’s economy has favorable factors for promising investment opportunities. She said that EBRD is eager “to cooperate with the government in upcoming projects and economic plans, and to provide developmental and investment experiences.”

On his part, Minister Shoukry highlighted key developmental projects, economic reform programs and investment promotion efforts such as the new investment law.

On May 27, EBRD signed with the Ministry of Investment and International Cooperation a €186 million ($207 million) loan to be granted to the Fayoum Water and Wastewater Company for expanding sanitation services.

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