Egyptian President Abdel Fattah El-Sisi has ratified an agreement with the European Bank for Reconstruction and Development (EBRD) to establish Egypt Account with a capital of €10 million, according to a decree published in the Official Gazette Thursday. Presidential Decree No. 146 of 2025 approves the cooperation agreement between the Egyptian government and the EBRD, following Cabinet endorsement and in line with Article 151 of the Egyptian Constitution. The move formalises an agreement signed earlier this year on February 5 by Egypt's Finance Minister Ahmed Kouchouk, which created the Egypt Account at the EBRD. The fund aims to provide €10 million for feasibility studies and advisory services supporting projects overseen by Egypt's Public-Private Partnership (PPP) Central Unit. He added that the account would facilitate quicker access to consultancy services for PPP projects, reducing the typical timeframe to secure feasibility study funding from development partners from one year to two months, thereby attracting greater private sector investment. The initiative seeks to enhance the participation of local and foreign private sectors in infrastructure, utilities, and public service projects aligned with Egypt's national priorities, according to Prime Minister Moustafa Madbouly at the time of signing the agreement. Attribution: Amwal Al Ghad English Subediting: Y.Yasser
