Egypt's Minister of Planning, Economic Development and International Cooperation Rania Al Mashat held talks with Chief Operating Officer for Africa at Meridiam Metin Saracoglu to review progress on the 1.1-gigawatt wind power station underway in the Gulf of Suez. The $1bn project is part of Egypt's flagship NWFE programme and is being implemented by Meridiam in partnership with the European Bank for Reconstruction and Development (EBRD), the African Development Bank (AfDB), British International Investment (BII), Germany's DEG, the Arab Energy Fund, alongside the Arab Bank and Standard Chartered Bank. During the meeting, Al Mashat highlighted Egypt's improving economic performance, with GDP growth rising to 4.77 per cent in the third quarter of FY2024/2025—more than doubling from 2.2 per cent a year earlier, marking the highest quarterly growth in three years. She added that this strong performance reflects a sustained recovery and growing resilience amid global uncertainty. Private investment at constant prices also surged 24.2 per cent year-on-year in the same quarter, surpassing public investment for the third consecutive quarter and accounting for nearly 62.8 per cent of total executed investments. Attribution: Amwal Al Ghad English Subediting: M. S. Salama
