On 01/01/1991 , The European Bank for Reconstruction and Development (EBRD) has started to cooperate with Egypt.
• The European Bank for Reconstruction and Development (EBRD) was established in 1991 to assist countries of Eastern and Central Europe as well as the former Republics of the Soviet Union in the process of economic transition from a guided economy to a market economy. Egypt contributed to the Bank’s capital since its establishment by EUR 20 million to pave way for Egyptian companies to do business and increase trade with EBRD’s operating countries.
• Following the outbreak of revolutions in the Arab Spring region, the Bank amended its Founding Agreement to expand its geographical scope of operations to include countries falling South and East of the Mediterranean (Egypt, Morocco, Tunisia and Jordan). The Bank currently comprises 65 countries of operation, besides the European Union (EU) and the European Investment Bank (EIB). Egypt became a country of operation on 30 October 2015.
• It is worth noting that the Bank's activities in its countries of operations focus on the following areas: financing and improving investment conditions in the private sector, particularly SME’s, creating jobs, developing trade of agricultural products for ensuring food security, financial sector modernization, developing the role of the sector of renewable energy, improving energy efficiency, supporting reform of the sector of transport and infrastructure to include private sector investments in infrastructure, and developing the infrastructure of local authorities based on decentralization and sound commercial principles.
EBRD’s Founding Agreement is the legal framework regulating the relationship between Egypt and the Bank. It was signed by Egypt on 29 May 1990 and was ratified by the People's Assembly in March 1991.
Latest aspects of cooperation :
• EBRD established a temporary office in Cairo on 1 January 2012 to pave way for opening its permanent headquarters which was inaugurated in November 2014.