The Minister of Planning and Economic Development discusses aspects of cooperation with the Vice President of the European Bank for Reconstruction and Development

Dr. Hala El-Said met with Mr. Alain Bello, Vice President of the European Bank for Reconstruction and Development (EBRD), and his accompanying delegation, to discuss areas of cooperation and discuss the new country strategy with the Bank 2021-2026.
 The meeting was attended by Dr. Ahmed Kamali, Deputy Minister of Planning, Dr. Nada Masoud, Economic Advisor to the Minister of Planning, Ambassador Hazem Khairat, Supervisor of the International Cooperation Office at the Ministry, and a delegation from the Ministry of International Cooperation.During the meeting, Dr. Hala El-Said affirmed the Egyptian government's keenness to make progress about the new strategy of the European Bank for Reconstruction and Development 2021-2026, explaining that the priorities set by the bank in its strategy are in line with the priorities of the Egyptian government at present.Dr. Hala El-Said indicated that Egypt is seeking to shift towards a green economy, which has become a top priority for the state, noting that the plan for the current fiscal year includes green projects representing 30% of the total projects to be implemented compared to 15% last fiscal year.El-Said pointed out that this percentage is targeted to reach 50% by 2024/2025. She also noted that Egypt launched its first "green bonds" worth $750 million, as a leading country in this regard in the Middle East and North Africa region.The Minister of Planning and Economic Development also reviewed, during the meeting, the national program for structural reforms, which is the second phase of the national program for economic and social reform. El-Said pointed out that the National Program for Structural Reforms (NPSR) focuses on raising the productive and competitive capacity of the Egyptian economy.
The program aims to achieve comprehensive, balanced, and sustainable growth, and change the structure of the economy by increasing the relative weight of three leading sectors: industry, agriculture, communications, and information technology.On the presidential initiative, "A Decent Life," El-Said explained that it aims to transform more than 4,500 Egyptian villages into sustainable rural communities.El-Said pointed out that the "Decent Life" initiative is the largest development initiative in the world and has a positive impact on reducing poverty rates, and is in line with UN 17 SDGs.For its part, the EBRD delegation affirmed their aspiration to cooperate with the Egyptian government, especially in the areas of infrastructure and utilities, support the competitiveness of the private sector in Egypt and improve access to finance for small and medium enterprises. The areas of cooperation also include desalination projects of great importance to the Bank, green economy and finance initiatives, and support for Egypt’s efforts in diversifying energy sources, as well as areas for improving governance in the public and private sectors, and building capacity for institutions to improve competition and encourage investment.