RIYADH: The European Bank for Reconstruction and Development has signed six memorandums of understanding with Egyptian government entities to enhance development cooperation and support national efforts in the areas of investment, energy, and sustainable development.
The North African country’s prime minister Mostafa Madbouly emphasized the importance of these agreements in supporting economic development efforts, strengthening the role of the private sector, and developing the energy sector’s infrastructure.
This will contribute to achieving the state’s objectives in the areas of sustainability, attracting investments, and developing productive capacities.
This follows Egypt’s recent economic momentum, with gross domestic product expanding by 5.3 percent in the first quarter of the 2025-2026 fiscal year, the fastest pace in more than three years, according to Minister of Planning and Economic Development Rania Al-Mashat.
It also reflects growing confidence in Egypt’s economic trajectory, driven by structural reforms, expanding productive sectors, and stronger real-economy activity, with growth forecast to reach 5 percent by the end of the fiscal year.
