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TunisiaEBRD approves new country strategy for Egypt
The Board of Directors of the European Bank for Reconstruction and Development (EBRD) has approved its country strategy for Egypt, which focuses on three key priorities identified in cooperation with the Egyptian government and aligned with its ambitious, recently launched reform programme.
In the period from 2022 to 2027, the Bank will focus on three strategic priorities:
- promoting a more inclusive economy for Egyptian businesses, women and youth
- accelerating Egypt’s green economy transition
- enhancing the country’s competitiveness by supporting private-sector growth and strengthening governance.
Heike Harmgart, EBRD Managing Director for the Southern and Eastern Mediterranean region, said: “Implementing the new strategy, the Bank will continue to couple its investments with robust policy engagement to help facilitate greater private-sector participation and enhanced corporate and economic governance in the public sector.
“Green transformation is a priority for the EBRD and for Egypt, which will host COP27 this year. Boosting the green economy, we aim to increase our support through a variety of instruments.”
The EBRD began operating in Egypt 10 years ago and has since invested more than €8.7 billion in 145 projects of which 76 per cent are in the private sector.
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