Cairo – Mubasher: The Board of Directors of the European Bank for Reconstruction and Development (EBRD) said Thursday that it has approved its first country strategy for Egypt.
The strategy focuses on four key priorities identified in cooperation with the Egyptian government; supporting the competitiveness of Egypt’s private sector, improving the quality and sustainability of Egypt’s public utilities through private sector participation, supporting Egypt’s efforts in diversifying its energy mix and strengthen governance, according to a statement.
“We are proud to have adopted the first country strategy for Egypt which is based on a thorough assessment of the sectors and our dialogue with the authorities,” Janet Heckman, EBRD Managing Director for the southern and eastern Mediterranean (SEMED) region and Director for Egypt, said.
“Our engagement in Egypt, which started in 2012, has contributed to the development of the economy as well as to the reform process. We see this as an appeal to increase and strengthen our engagement in the country and aim for even wider impact,” she added.
Philip ter Woort, departing EBRD Country Director, said, “I am very pleased with today’s endorsement by the EBRD Board of the country strategy for Egypt, which builds on the bank’s strong operational engagement in Egypt over the last four years and lays the foundation for the bank's financial and policy dialogue engagement in the country for the years ahead”.
