Nasr meets 1st vice president of EBRD

Investment and International Cooperation Minister Sahar Nasr met on Saturday with First Vice-President of the European Bank for Reconstruction and Development (EBRD) Philip Bennett on the fringe of World Bank meetings, currently taking place here. 

Nasr said the EBRD has contributed to 43 projects in Egypt through investments worth some 1.9 billion euros. 

She was particularly pleased with EBRD contribution to infrastructure projects meant to upgrade transport and communication services. 

The EBRD has accepted Egypt's first country strategy, which, according to Nasr reflects a strong partnership between Cairo and international monetary institutions. 

Nasr said Egypt is looking forward to participating in the EBRD annual meetings, due to be held in Cyprus in May. 

The meeting also took up efforts to hone the competitive edge of the private sector in Egypt and create an investment-friendly climate. 

The files of small and medium-sized enterprises (SMEs) and women and youth empowerment also figured high at the talks. 

Bennett said the EBRD intends to increase its support for the energy sector, as well as the infrastructure, in Egypt. 

The EBRD will back Egypt's efforts to diversify energy resources through funding renewable energy projects, he added.

Source: MENA