Egypt’s Minister of Petroleum and Mineral Resources Karim Badawi met Wednesday with a high-level delegation from the European Bank for Reconstruction and Development (EBRD) to discuss concrete steps for proposed cooperation, including the Bank’s interest in financing Egypt’s national aerial survey project aimed at mapping the country’s mineral potential.
Global head of Natural Resources at EBRD Natalia Lacorzana, head of Investment for the Petroleum and Mining sector in Egypt Amr Salem and Vice President of the Corporate Sector at EBRD Egypt Menna Zekrallah took part in the meeting.
Discussions focused on enhancing investment climate in Egypt’s petroleum and mining sectors, through innovative financing mechanisms attractive to both global and local companies, according to a statement by the Ministry of Petroleum and Mineral Resources.
The minister highlighted opportunities for collaboration in a number of areas, including modernizing the digital infrastructure of the Egyptian Mineral Resources Authority, developing advanced databases on energy efficiency and providing training programs for employees in the mineral resources and mining industries, the statement said.
The global head of Natural Resources at EBRD highlighted EBRD’s strong record of cooperation with Egypt’s petroleum sector, including technical and financial support for projects to improve energy efficiency, reduce carbon emissions and advance human-capacity development programs, said the statement. She also highlighted the Bank’s preparedness to finance Egypt’s sustainable aviation fuel project – the first of its kind in the country and region, it added.
