Egypt has retained its position as the top destination for the European Bank for Reconstruction and Development (EBRD)'s investment in southern and eastern Mediterranean countries (SEMED) for the seventh consecutive year, a government statement showed on Monday. This in addition to a global ranking of third among EBRD member states. SEMED region includes Egypt, Jordan, Lebanon, Morocco, Tunisia and the West Bank and Gaza. According to a statement by the Ministry of Planning and Economic Development, EBRD invested €1.5 billion in Egypt across 26 projects in 2024, with 98 per cent directed toward private sector initiatives and 50 per cent dedicated to green financing. The investments were allocated across trade finance (40 per cent), infrastructure (26 per cent), financial services (20 per cent), and corporate projects (13 per cent). Minister of Planning and Economic Development, Rania Al-Mashat highlighted the growing partnership between Egypt and the EBRD. Since 2012, this collaboration has delivered €13.8 billion in financing for 194 projects, with 80 per cent of the funding supporting private-sector growth. The minister credited Egypt's recent economic and structural reforms for increasing access to concessional financing for both local and foreign private enterprises. The partnership aligns with Egypt's 2022-2027 development strategy, focusing on inclusivity, green economy acceleration, and competitiveness. Key initiatives include the NWFE Programme, which mobilised $3.9 billion in financing for 4,200 MW of renewable energy projects, and the Benban Solar Park, a flagship project that positions Egypt as a leader in renewable energy development. Egypt's strategic significance is further recognised by its selection to host the EBRD's annual meetings in Sharm El-Sheikh in 2027, solidifying its role as a cornerstone of EBRD operations. Attribution: Amwal Al Ghad English
