Prime Minister Mostafa Madbouly witnessed the signing of six agreements and memoranda of understanding (MoU) between several Egyptian government entities and the European Bank for Reconstruction and Development (EBRD), as per a statement.

The agreements focus on cooperation in investment, energy, and sustainable development.

Madbouly said the agreements support Egypt’s economic development priorities by strengthening the role of the private sector, improving investment flows, and upgrading energy sector infrastructure in line with national sustainability objectives.

One agreement was signed between the Egyptian Electricity Transmission Company (EETC) and the EBRD to reinforce Egypt’s electricity grid.

The agreement is part of a broader cooperation framework to develop infrastructure and enhance the grid’s capacity to integrate renewable energy.

An MoU to promote investment cooperation was also signed between the General Authority for Investment and Free Zones (GAFI) and the EBRD.

It aims to establish a framework to increase awareness of investment mechanisms and highlight investment opportunities in Egypt, and supports efforts to attract additional foreign direct investment.

Another MoU focuses on expanding private sector participation in sustainable development by increasing access to the Hafiz platform, a national portal linking private companies with development financing, technical assistance, and advisory services.

The MoU was signed by Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat, and EBRD's Managing Director for the Southern and Eastern Mediterranean (SEMED) region Mark Davis.

It supports a national roadmap to enhance private sector engagement, encourage participation in promotional tours, and help small and medium-sized enterprises improve their competitiveness and access international markets.

It also aims to strengthen institutional partnerships that contribute to achieving the Sustainable Development Goals.

A €165 million financing agreement was signed for the Egypt Electricity Grid Enhancement Project.

Al Mashat and Davis signed the agreement, which includes establishing and upgrading a 500-kilovolt substation in Cairo under Phase 1, and constructing a 200-kilometer high-voltage transmission line to transport renewable energy from the Gulf of Suez under Phase 2.

The project will also receive a €35 million investment grant and a €2 million technical cooperation grant.

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