Minister of Planning, Economic Development, and International Cooperation Meets EBRD President, on Sidelines of WEF Davos 2026

Al-Mashat:

 

We are collaborating with the EBRD to implement the industrial decarbonization program under the Climate Investment Funds (CIF) initiative.

 

Intensive efforts in the coming period to increase innovative financing for the private sector and leverage the European Investment Guarantee mechanism.

 

Moving forward with completing the energy pillar projects of the "NWFE" program with a total capacity of 10 GW.

 

Global challenges necessitate prioritizing international cooperation and strengthening partnerships to safeguard developmental gains.

 

 

 

H.E. Dr. Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, and Egypt’s Governor at the European Bank for Reconstruction and Development (EBRD), met with Ms. Odile Renaud-Basso, President of the EBRD, during the World Economic Forum (WEF) in Davos 2026.

 

The meeting discussed the future of joint relations with the EBRD, one of Egypt’s most prominent multilateral development partners. H.E. Dr. Al-Mashat emphasized the ongoing coordination with the Bank to increase innovative financing for the private sector, particularly by utilizing the European Investment Guarantee mechanism activated last year.

 

H.E. Dr. Al-Mashat praised the cooperation efforts regarding the energy pillar of the "NWFE" program, which successfully mobilized $4.5 billion in concessional financing from development partners for the private sector to implement projects with a capacity of 5.2 GW. Furthermore, Power Purchase Agreements (PPAs) have been signed for projects totaling 8.25 GW. She noted that efforts are continuous to finalize the financing for the program’s full 10 GW target.

 

H.E. Dr. Al-Mashat also highlighted the ongoing coordination with the EBRD and other development partners to implement the Industrial Decarbonization Program, recently launched by the Climate Investment Funds (CIF). This program is the first global concessional financing initiative dedicated to reducing harmful emissions in the industrial sectors of developing countries, aligning with national efforts to mobilize climate investments and promote a green transition in industry.

 

The two sides reviewed global challenges and themes discussed at Davos, particularly those concerning emerging markets, geopolitical tensions, and the recurring tests facing international cooperation. H.E. Dr. Al-Mashat stressed that global challenges mandate the elevation of international cooperation values and the strengthening of partnerships to protect developmental achievements.

 

It is worth noting that the relationship between Egypt and the EBRD has witnessed significant progress in various sectors over the past five years. As a founding member, the EBRD has invested in Egypt over €13.8 billion in 209 projects since operations began in 2012, with approximately 80% of these investments directed toward the private sector. In 2024, Egypt remained the Bank’s largest country of operations in the Southern and Eastern Mediterranean (SEMED) region for the seventh consecutive year.