CAIRO: The European Bank for Reconstruction and Development, known as EBRD, has provided EUR4.9 billion ($5.5 billion) in development funds to the governmental and private sectors in Egypt during the period 2017 to 2022.
The bank is currently in the process of approving a joint country strategy with Egypt for the period from 2022 to 2027.
The Ministry of International Cooperation revealed the results of the previous country strategy for the period from 2017 to 2022 amid its work with the bank to enhance development efforts in four areas.
The four areas are: Supporting the competitiveness of the private sector in Egypt, improving the quality and sustainability of public utilities and infrastructure, supporting the transition toward a green economy and strengthening governance, and competitive frameworks among companies.
Since its inception in 2012, the EBRD has invested more than EUR8.7 billion in Egypt, supporting the implementation of 145 projects, with over 76 percent for the private sector.