Egypt, EBRD sign agreements to boost investment

RIYADH, Saudi Arabia (MNTV) — The European Bank for Reconstruction and Development (EBRD) and several Egyptian government entities signed six memoranda of understanding designed to deepen cooperation on investment promotion, energy infrastructure, and sustainable-development initiatives in Egypt.

Egypt’s Prime Minister Mostafa Madbouly, present at the signing, emphasized the deals’ role in supporting economic growth, expanding private-sector involvement, and modernizing energy networks.

One of the agreements includes funding of approximately US $192 million to reinforce Egypt’s electricity grid, including construction of a 500-kilovolt substation in Cairo and a 200-kilometer high-voltage line to carry renewable energy from the Gulf of Suez region.  

Additional support includes a US $40.6 million investment grant and a US $2.3 million technical assistance grant to help strengthen the infrastructure and institutional capacity needed for the project.

Other MoUs establish a framework to promote foreign direct investment, broaden private-sector engagement through the national “Hafiz” portal — which provides firms financing, technical support, and advisory services — and improve the competitiveness and global access of small and medium-sized enterprises.

The agreements reflect growing confidence in Egypt’s economic trajectory, bolstered by structural reforms, expanding productive sectors, and a recent GDP expansion of 5.3 percent in the first quarter of the 2025–2026 fiscal year — the fastest pace in over three years.