Madbouly praised the EBRD's role in supporting Egypt's developmental efforts, particularly in the areas of renewable energy, infrastructure, and other development fields
Prime Minister Mostafa Madbouly met with Odile Renaud-Basso, President of the European Bank for Reconstruction and Development (EBRD), on the sidelines of the Global Gateway Forum organized by the European Commission, to explore ways to expand cooperation on renewable energy and infrastructure projects.
Madbouly praised the EBRD's role in supporting Egypt's developmental efforts, particularly in the areas of renewable energy, infrastructure, and other development fields. He noted that the government's major development projects have created millions of job opportunities.
The PM urged the bank to expand the scope of cooperation on renewable energy projects, given the bank's strong relationship with Egypt in this field.
Renaud-Basso explained that the EBRD and the Egyptian Minister of Electricity are discussing ways to increase Egypt's renewable energy capabilities, and are also working on a joint project to develop green hydrogen production in the country.
She added that the bank is interested in contributing to desalination projects in the Suez Canal Economic Zone (SCZone), stating that Egypt has an ambitious plan to increase its desalination capacity, indicating it is one of the more important areas of investment for the government.
The EBRD president also expressed her appreciation for Egypt’s efforts to stop the escalating situation in the Gaza Strip and supply the area with aid.
Madbouly also stressed that the government is working on supporting and empowering the private sector to increase their participation in the economy through the state ownership policy document and approving a broad package of investment incentives.
In other forum news, the Egyptian Electricity Transmission Company and the Jan De Nul Group signed a MoU on Wednesday to commence studies on a project to export electricity from renewable energy from Egypt to Europe via a Mediterranean Sea line.
