By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    Popular video-sharing app TikTok was granted by the U.S. government a 15-day extension to reach a deal with U.S. buyers, a federal court filing showed Friday. This means the deadline for ByteDance, TikTok's Chinese parent company, to reach a deal with Oracle and Walmart has been extended from Nov. 12 to Nov. 27, according to the U.S. District Court for the District of Columbia.
    TikTok updates its community guidelines
    March 23, 2023
    IFC to invest in Mediterrania Capital Partners’ fund to support African mid-cap businesses
    IFC to invest in Mediterrania Capital Partners’ fund to support African mid-cap businesses
    March 23, 2023
    Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023
    Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023
    March 23, 2023
    EFG Hermes records EGP 11bn revenue in FY22
    EFG Hermes records EGP 11bn revenue in FY22
    March 23, 2023
    Egyptian Environment Minister discusses cooperation with WFP representative in Cairo 
    Egyptian Environment Minister discusses cooperation with WFP representative in Cairo 
    March 23, 2023
  • Politics
    PoliticsShow More
    Egypt's Health Minister discuss bilateral cooperation with an Italian delegation 
    Egypt’s Health Minister discuss bilateral cooperation with an Italian delegation 
    March 23, 2023
    Egypt’s foreign minister phones Algerian counterpart over boosting ties
    Egypt’s foreign minister phones Algerian counterpart over boosting ties
    March 22, 2023
    Turkish President  Recep Tayyip Erdoğan and Egypt President Abdel-Fattah Al-Sisi met in Doha
    Opinion| Türkiye and Egypt: For better times with many opportunities
    March 22, 2023
    Drought caused 43,000 deaths in Somalia in 2022: UN
    Drought caused 43,000 deaths in Somalia in 2022: UN 
    March 22, 2023
    Opinion| The Chinese dragon occupies America's place in the Middle East
    Opinion| The Chinese dragon occupies America’s place in the Middle East
    March 22, 2023
  • Interviews
    InterviewsShow More
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    March 15, 2023
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    March 12, 2023
    EGX ready for government’s IPOs programme: Chairperson
    EGX ready for government’s IPOs programme: Chairperson
    February 15, 2023
    British International Investment invests $4.5bn in 700 businesses across Africa: Sherine Shohdy
    February 15, 2023
    Valeo has invested around €0.5bn in Egypt over the past 10 years: CEO
    Valeo has invested around €0.5bn in Egypt over the past 10 years: CEO
    December 27, 2022
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: Egypt-EBRD cooperation portfolio amounts to $1.3bn: Al-Mashat
Share
Notification
Latest News
Popular video-sharing app TikTok was granted by the U.S. government a 15-day extension to reach a deal with U.S. buyers, a federal court filing showed Friday. This means the deadline for ByteDance, TikTok's Chinese parent company, to reach a deal with Oracle and Walmart has been extended from Nov. 12 to Nov. 27, according to the U.S. District Court for the District of Columbia.
TikTok updates its community guidelines
Business
Strong representation of women in TV series of Ramadan 2023
Strong representation of women in TV series of Ramadan 2023
Culture Cinema
IFC to invest in Mediterrania Capital Partners’ fund to support African mid-cap businesses
IFC to invest in Mediterrania Capital Partners’ fund to support African mid-cap businesses
Business
Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023
Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023
Business
EFG Hermes records EGP 11bn revenue in FY22
EFG Hermes records EGP 11bn revenue in FY22
Business
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > Egypt-EBRD cooperation portfolio amounts to $1.3bn: Al-Mashat
Business

Egypt-EBRD cooperation portfolio amounts to $1.3bn: Al-Mashat

Nehal Samir
Last updated: 2021/07/02 at 12:43 AM
By Nehal Samir 4 Min Read
Share
SHARE

The current portfolio of cooperation between Egypt and the European Bank for Reconstruction and Development (EBRD) has amounted to $1.3bn.

Since 2012, the EBRD has invested over €7.2bn to implement 127 projects, according to Minister of International Cooperation Rania Al-Mashat.

She added that in 2020, Egypt was the EBRD’s largest country of operations in the Southern and Eastern Mediterranean (SEMED) region, receiving more than €1bn finance for 21 projects; accounting for 47% of the bank’s total investments in the region. Egypt was also the largest country of operations for two consecutive years in 2018 and 2019.

Minister Al-Mashat’s remarks came on the sidelines of her participation in the EBRD’s 2021 Annual Meetings & Business Forum, titled “Building a Better and More Equal Future: Voices from the EBRD Region”.

The forum discussed ways to mitigate the socioeconomic impacts of the COVID-19 pandemic, tapping on the importance of multilateralism in order to ensure recovery.

Along with Al-Mashat, the panel was attended by Ana Brnabic, Prime Minister of Serbia; Ivan Mrvos, Croatian founder and CEO of tech firm Include; Cholpon Jumashukurov, Co-Founder and Managing Partner, Highland Capital; Barbara Rambousek, EBRD Director of Gender and Economic Inclusion; Uros Bultovic, Founder and President of the Union Of Young Entrepreneurs of Montenegro. The discussion was moderated by Zeinab Badawi, International broadcaster.

During the meeting, they discussed ways to mitigate the impact of the COVID-19 pandemic on the most vulnerable groups, especially the youth and women, and tackled structural reforms led by the countries to push forward economic recovery of all stakeholders. Al-Mashat stated that reform is a continuous process, and that despite the pandemic and its recessions in most of the countries, Egypt has achieved positive growth rates due to the 2016 to 2019 reform programs that helped cushion the country in such a challenging time.

“In 2016-2019, we had ambitious reform programs, as well as structural reforms, that prepared us on the fiscal side as we were entering 2020 and during the pandemic,” she explained.

When the pandemic hit, Egypt’s priority was to protect its people, provide liquidity to firms and consumers and implement reforms in order for the economic cycle to continue, she added.

Al-Mashat emphasized the importance of multilateralism and the international community’s participation, especially when it comes to designing national programs to push the inclusion of women and youth, which is the true nature of stakeholder engagement.

“When we say inclusion, everybody has a place on the table, and that’s the spirit of stakeholder engagement,” Al-Mashat added. 

For her part, Ana Brnabić stated that what has helped Serbia in recovering from the pandemic, is the 2016 economic transformation from a labor intensive driven economy to a knowledge-based  economy. She praised the rise of the employment rate in 2020, as Serbia has provided support packages to invest in the economy and people.

In 2020, the EBRD responded to the pandemic with record investment of €11bn through 411 projects, addressing the urgent needs of its 38 Countries of Operation.

Rambousek stated that the EBRD focuses on strengthening partnerships through bringing together different stakeholders to the same table in order to achieve profound impact.

You Might Also Like

TikTok updates its community guidelines

IFC to invest in Mediterrania Capital Partners’ fund to support African mid-cap businesses

Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023

EFG Hermes records EGP 11bn revenue in FY22

Egyptian Environment Minister discusses cooperation with WFP representative in Cairo 

Share this Article
Facebook Twitter Email Print
Previous Article Egypt thwarts smuggling of 203 antique coins at Cairo Airport
Next Article Egypt, Serbia discuss boosting cooperation in tourism, archaeology
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

Popular video-sharing app TikTok was granted by the U.S. government a 15-day extension to reach a deal with U.S. buyers, a federal court filing showed Friday. This means the deadline for ByteDance, TikTok's Chinese parent company, to reach a deal with Oracle and Walmart has been extended from Nov. 12 to Nov. 27, according to the U.S. District Court for the District of Columbia.
TikTok updates its community guidelines
Business
Strong representation of women in TV series of Ramadan 2023
Strong representation of women in TV series of Ramadan 2023
Culture Cinema
IFC to invest in Mediterrania Capital Partners’ fund to support African mid-cap businesses
IFC to invest in Mediterrania Capital Partners’ fund to support African mid-cap businesses
Business
Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023
Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023
Business
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?