Minister of International Cooperation Rania el-Mashat discussed during a meeting Tuesday with officials of the European Union (EU) and the European Investment Bank (UIB) new mechanisms for future cooperation, along with fostering joint economic relations as part of ongoing deliberations pertaining to an EU 2021-2027 future cooperation program.
According to a statement issued by the International Cooperation Ministry the meeting took up accelerating contributions of international financial institutions, including the UIB, the German Development Bank (KFW) and the French Development Agency ( AFD), along with incentivizing the private sector’s support to developmental efforts in Egypt, in various domains, particularly in renewable energy, transport, Small and Medium Enterprises (SME) and communication.
In February, the EU announced its Neighborhood, Development and International Cooperation Instrument (NDICI) for – 2021-2027 to support regions in need to overcome their long-term challenges to continue achieving their international commitments and goals.
The NDICI priority areas cover human development, social inclusion, gender equality, climate change, environmental protection and migration-related actions.
Egypt has already embraced the EU-Egypt Partnership Priorities 2017-2020; an EU Unified Support Framework that helped upgrade various sectors in the country.