Dr. Mohamed Farid:
- Digital transformation and integration of government entities are key pillars for accelerating procedures and improving the business environment
- Investment and industrial zones represent a key pathway for development across governorates
Andrew McDowell, EIB Director General:
- We are interested in participating in development projects in Egypt and supporting energy, transport, and private sector initiatives
In the context of his participation in the 2026 Spring Meetings taking place in Washington, Dr. Mohamed Farid, Minister of Investment and Foreign Trade (MIFT Minister), met with Mr. Andrew McDowell, Director General of the European Investment Bank (EIB), and Mr. Markus Berndt, the Head of the EIB Group Representation to the United States and the United Nations and the Deputy Director General, to discuss strengthening cooperation and expanding development financing, particularly in support of industrial development and investment zones.
MIFT Minister emphasized the continuation of reform efforts aimed at enhancing economic resilience and improving investment attractiveness, alongside expanding digital transformation and integrating government entities to reduce procedures and accelerate the business environment.
He noted that the expansion of investment and industrial zones represents the optimal pathway to achieving sustainable development across governorates and rural areas, while empowering youth and women. The two sides also explored opportunities for EIB participation in financing these initiatives.
The meeting also highlighted Egypt’s successful launch of a voluntary market for trading carbon emission reduction certificates, reinforcing the transition toward a green economy and attracting sustainable investment.
Dr. Farid further reviewed the role of the Sovereign Fund of Egypt (TSFE), the expansion of specialized investment funds, and the public offerings program, including the listing of Misr Life Insurance Company.
For his part, Mr. Andrew McDowell, EIB Director General, affirmed that EIB is interested in financing electricity and private sector projects, reiterating the EIB’s continued support for development programs in Egypt.
The meeting concluded with an agreement to continue coordination on financing new industrial zones and supporting investment instruments affiliated with TSFE, in order to achieve sustainable economic growth
