Planning Min. meets with European Commission Finance and Economic Director

Dr. Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, met with Ms. Annika Eriksgård, Director of Financial and Economic Affairs at the European Commission (EC), on the sidelines of the second edition of the Global Gateway Forum, held under the theme “Partnerships in a Geopolitical Era: Time for a New Strategic Dialogue.” The forum gathered senior representatives from governments, financial institutions, the private sector, and civil society to explore innovative strategies for expanding Global Gateway investments in partner countries.

During the meeting, Minister Al-Mashat emphasized the strong partnership between Egypt and the European Union, particularly in supporting macroeconomic stability and advancing economic reform programs. She referenced the Macro-Financial Assistance (MFA) and Budget Support mechanism, noting that the first phase, valued at €1 billion, was disbursed in December 2024. The discussion focused on preparations for signing the Memorandum of Understanding for the second phase of the MFA mechanism.

Al-Mashat highlighted that Egypt has held a series of intensive technical consultations with the EC’s Directorate-General for Economic and Financial Affairs and relevant Egyptian entities to finalize the reform package for the program’s second phase. The package includes 87 key structural reforms aligned with Egypt’s National Structural Reform Program, set for gradual implementation.

She also presented the English version of the executive summary of the National Economic Development Narrative, describing it as a comprehensive economic reform agenda that extends beyond fiscal and monetary policy to encompass real economy sectors, with a defined roadmap for empowering the private sector and enhancing competitiveness.The Minister outlined a narrative built on three core pillars: ensuring macroeconomic stability through prudent fiscal and monetary policies; enhancing competitiveness by improving the business and investment climate; and advancing the green transition in line with Egypt’s sustainable development goals and international environmental commitments. She affirmed that this framework ensures full alignment between EU-supported reforms and Egypt’s national reform agenda.

Minister Al-Mashat highlighted the importance of the upcoming Egypt–EU Summit in late October, viewing it as a pivotal platform to strengthen the strategic partnership between Egypt and the European Union. The summit will address key areas of cooperation, including economic and investment relations, sustainable development, food security, energy, and the green transition.

Ministry of Planning, Economic Development, and International Cooperation

Translated by SIS