EBRD president: cooperation strategy to be launched with Egypt

President of the European Bank for Reconstruction and Development (EBRD) Suma Chakrabarti on Tuesday said the bank is working on the completion of a joint strategy for cooperation with Egypt.

During a meeting with Prime Minister Sherif Ismail, Chakrabarti added that the strategy would be developed in line with the government's vision and priorities, especially in light of political and economic stability in the country and procedures implemented with regard to economic and legislative reforms.

EBRD president said the bank pays special attention to choosing sectors planned to be included in the strategy, especially improving investment conditions for the private sector, developing agricultural and irrigation systems, promoting financial institutions' capacity to contribute to the economic growth, boosting the use of clean and renewable energy, improving energy efficiency, and implementing transport and metro projects.

The EBRD has invested about 1.7 billion euros in several vital sectors, he added. 

For his part, the Egyptian premier hailed international financial institutions' confidence in Egyptian efforts to achieve sustainable development.

Source: MENA