EBRD
Foreign Minister Badr Abdelatty met on Saturday with EBRD’s President Odile Renaud-Basso and Vice President for Banking Matteo Patrone on the sidelines of EBRD’s 35th Annual Meeting.
The bank projects growth slowing from 5.1 percent in 2025 to 4.9 percent in 2026 and 2027, as structural challenges continue to weigh on activity.
The high-level meeting reflects the strong and evolving partnership between Egypt and the EBRD.
Additionally, the lender reduced its projection for Egypt’s fiscal year ending in June 2025 to 3.6 percent, reflecting a 0.4 percentage-point decline from earlier predictions, according to its latest Regional Economic Prospects report.
The initiative will primarily focus on assessing the current liquidity situation in the EGX and identifying strategies to boost market efficiency.
This initiative is designed to accelerate investment in key infrastructure sectors and enhance private sector participation in national development efforts.
Egypt’s Prime Minister, Mostafa Madbouly, met on Wednesday with the President of the European Bank for Reconstruction and Development (EBRD), Odile Renaud-Basso, at the second day of the World Economic Forum ‘Davos 2025’, on behalf of President Abdel Fattah El-Sisi in Switzerland.
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 discussions focused on expanding the cooperation portfolio and exploring new areas aligned with Egypt's governmental priorities.
On a calendar-year basis, Egypt's economy is projected to grow by 3.2 percent in 2024, with an optimistic increase to 4.5 percent in 2025.
Abd El Hakim explained that the allocated funding for Egyptian banks will be divided as follows: $305 million will be directed towards financing small and medium enterprises as well as green energy projects, while $400 million will be dedicated to financing intra-regional trade.
On the sidelines of day two of the Egypt-EU investment conference, PM Madbouly underscored Egypt's commitment to economic reform and its impact on fostering a conducive investment climate, citing achievements such as stabilizing the foreign exchange rate and supporting the private sector
EBRD anticipates the economy to recover in 2025, expecting an uptick to 4.4 percent while forecasting a climb to 4 percent for the coming fiscal year
Over 80 percent of these investments were directed towards the private sector, resulting in the implementation of 174 projects across various development sectors
This collaboration was formalized through the signing of a cooperation protocol between the two entities, in the presence of the Ministry of International Cooperation (MOIC)
The EBRD forecasted Egypt’s GDP to rise by 4.8 percent during FY2023/2024, driven by recent reforms to boost private sector growth and easing of external and fiscal vulnerabilities
The agreement was signed by Walid Gamal El Din, Chairman of the General Authority for the Suez Canal Economic Zone, and Khaled Hamza, Director of the European Bank for Reconstruction and Development office in Egypt.
Emphasizing the strong relations between the EBRD and Egypt, Madbouly called on the bank to expand the scope of cooperation on renewable energy projects between the two
The EBRD has set the approval date for the loan as 13 December 2023
Estimates indicate that natural gas production declined by 9.3 percent year-on-year in the first half of 2023, reaching its lowest level in three years.
