Egypt, EBRD to Draft New Cooperation StrategySource: www.export-egypt.com 3/18/2016, Location: Africa |
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 International Cooperation Minister Sahar Nasr received Director for Egypt of the European Bank for Reconstruction and Development (EBRD) Philip ter Woort for talks on starting preparing a cooperation strategy for the coming years.
The new strategy will be developed in light a decision by the EBRD Board of Governors taken on October 30 to make Egypt a country of operations, meaning that all EBRD investments in the country will be financed from the ordinary capital resources of the Bank. During the meeting, Nasr said the new strategy should incorporate the government's priorities at present, mainly mega national projects that would offer more job opportunities for the youths and help improve living conditions of the citizens. The private sector has to be given special care as a large contributor in pushing forward development efforts in the coming period, the Egyptian minister said. Egypt is currently giving priority to new and renewable energy projects, she said, calling on EBRD to put new-energy projects on top of its strategy in Egypt with a special focus to solar energy stations. For his part, ter Woort welcomed the thought, saying the Bank will be offering funding needed for solar-energy-generating stations whether built by the public or private sectors. He said the EBRD president will visit Egypt in late May in response to an invitation of Minister Nasr. |
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