Ministry of Planning Economic Development and International Cooperation
This funding is part of a broader €5 billion support package from the EU, with €1 billion already received by the Egyptian government in December.
Since 2012, cooperation between the two has led to investments totaling €13.8 billion across 194 projects, with over 84 percent of these funds directed towards the private sector, according to Al Mashat.
The non-petroleum manufacturing sector led the way with 7.1% growth, fueled by streamlined customs processes and improved access to production inputs
The agreement, valued at $131 million, aims to bolster Egypt's economic diversification efforts and improve the business environment
Al-Mashat emphasized the World Bank Group’s vital role as a strategic partner in advancing Egypt’s economic priorities. She acknowledged the bank’s substantial contributions across sectors such as education, healthcare, transportation, social protection, housing, and private sector development
The agreements include a $230 million concessional development loan, equivalent to 35 billion Japanese yen, aimed at supporting Egypt’s budget and advancing critical structural reforms. Additionally, grants worth $4.3 million will be used to renovate the Cairo Opera House and expand agricultural mechanization, boosting public services and enhancing the livelihoods of small-scale farmers.
In her keynote address, Minister Al-Mashat emphasized the enduring strength of Egyptian-Japanese relations and their shared commitment to addressing development challenges. “Egyptian-Japanese partnerships reflect the importance of collaborative efforts to tackle development challenges,” Al-Mashat stated, highlighting the alignment of shared visions and priorities that have driven progress across key sectors.
The initiative will be executed in collaboration with the General Authority for Veterinary Services and other agencies, focusing on enhancing livestock management, improving animal health, and combating antibiotic-resistant microbes
These projects build on a robust history of cooperation in technical education between Egypt and Germany, with total funding reaching €121.5 million to date.
The program aims to boost renewable energy production, reduce reliance on thermal power plants, and support Egypt’s National Climate Change Strategy 2050.
The inaugural session aims to activate an updated economic cooperation agreement, replacing the one from 1964, under which 12 committee sessions were held, the last in 1993. Al-Mashat noted that the new agreement aligns with current economic needs and will foster collaboration in various areas of development and economic growth.
Al-Mashat described the EU as a “strategic partner” for Egypt, emphasizing their joint efforts in areas like food security, renewable energy, and digital transformation
This investment is part of Egypt’s broader development strategy under the “NWFE” program, which is aimed at supporting sustainable growth and accelerating the country’s transition to a green economy
She emphasized the importance of unlocking the sector’s vast potential by engaging the private sector and welcomed the IFC's expertise in this domain.
The discussions focused on expanding the cooperation portfolio and exploring new areas aligned with Egypt's governmental priorities.
Al Mashat presented the country’s recent economic and structural reforms, emphasizing the government's efforts to strengthen macroeconomic stability, enhance the business environment, and build a competitive, investment-friendly economy.
Held on the sidelines of the WB annual meetings in Washington on Thursday, their meeting discussed private sector financing, capital market development, and restructuring the global financial system.
She noted that the capital increase would enhance the IFC’s ability to expand its support to private companies.
The minister reiterated the government’s commitment to implementing effective measures to support macroeconomic stability
Al-Mashat noted the historical significance of Egypt's partnership with the AfDB, pointing out that the country is a founding member and contributed approximately 12.5 percent of the bank's initial capital.
