The European Bank for Reconstruction and Development (EBRD) released its first country strategy after taking the Board of Directors’ approval on February 8, Invest-Gate reports.

The “Strategy for Egypt” focuses on four key priorities identified in cooperation with the Egyptian government. EBRD aims to support private sector competitiveness while improving the quality and sustainability of Egypt’s public utilities through private sector participation. Another goal is supporting Egypt’s Green Economy transition while strengthening governance in both private and public sectors.

“We are proud to have adopted the first country strategy for Egypt based on a thorough assessment of the sectors and our dialogue with the authorities,” said EBRD Egypt director Janet Heckman.

“Our engagement in Egypt, which began in 2012, has contributed to the development of the economy as well as to the reform process. We see this as an appeal to increase and strengthen our engagement in the country, aiming for even wider impact,” she added.

Egypt is a founding member of the EBRD. Until this date, the bank has pumped over EUR 2.3 bn in the country through 42 projects since the start of EBRD’s activities in 2012.