The Egyptian-Italian relations at the level of international partnerships, reached €89 million to support many sectors, including agriculture and small projects
The Italian Agency for Development will provide €2 million to the European Bank for Reconstruction and Development (EBRD) to launch a program to support Egyptian startups companies and small enterprises.
This came under the framework of signing the cooperation protocol between the two sides, which was in the presence of the Ministry of International Cooperation (MOIC). Through the Egypt-EBRD country strategy for the period 2022-2027, the ministry seeks to achieve the strategy's three core objectives.
These objectives primarily encompass supporting Egypt’s efforts to achieve a comprehensive economic growth, accelerating the transition towards a green economy, and stimulating the role of the private sector in development.
Minister of International Cooperation, Rania Al Mashat, appreciated the ongoing collaboration with the Italian side, particularly for the financial support extended towards numerous development projects across various sectors.
The Egyptian-Italian relations at the level of international partnerships, reached €89 million, to support many sectors, including agriculture and small projects, according to MOIC’s report. Additionally, there is the debt swap program for development, which is worth $350 million.
The EBRD invested more than €11 billion in Egypt since 2012, with 80% of these funds provided to the private sector.
