Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, welcomed Ms. Angelina Eichhorst, the new EU Ambassador to Cairo, and the accompanying delegation in their first meeting following her assumption of office, succeeding Ambassador Christian Berger. The meeting discussed various aspects of the economic partnership between the Arab Republic of Egypt and the European Union, within the framework of the strategic relations between the two sides.

Dr. Al-Mashat highlighted the EU’s strategic importance as one of Egypt’s main partners in economic and social development and noted that the European Union is a key supporter of many vital projects that enhance Egypt’s ability to achieve its comprehensive and sustainable development objectives. Minister Al-Mashat also addressed the significant progress in relations with the EU since the beginning of the year, including the holding of the Egyptian-EU Association Council, the high-level visit of the President of the European Commission, the signing of the Joint Declaration on the strategic partnership, and the subsequent Egyptian-EU Investment Conference. Dr. Al-Mashat also highlighted the €7.4 billion financial package within the Egyptian-EU partnership aimed at supporting development projects and enhancing economic stability, ensuring an attractive investment environment, and encouraging trade and investment.

Both sides reviewed the current status of the first phase of the Macro-Financial Assistance (MFA) Mechanism, for macro-economic and budget support. H.E. Dr. Al-Mashat highlighted the ministry’s coordination with EU missions and relevant national bodies to review the structural reforms implemented, as well as the investment guarantees provided by the EU, which will enhance European investments in Egypt.

The EU Ambassador in Cairo, Ms. Eichhorst, expressed gratitude to H.E. Dr. Al-Mashat for the warm reception and emphasized the significant progress in EU-Egypt relations, which are now considered a model of constructive partnerships. She expressed willingness to continue working together for further developing the economic partnership and building on the achievements made.

It is worth noting that the ongoing development cooperation portfolio with the EU amounts to €1.3 billion, including grants and blended financing, aimed at enhancing vital sectors such as transport and infrastructure, which play a key role in boosting economic movement and linking various regions. It also targets the water sector to improve access to clean water and ensure sustainability in water resources, as well as agriculture, which contributes to food security and enhances local production.