Egypt plays an active role in the European Bank for Reconstruction meetings
Egypt-European Union, Economics, 5/9/2001

Egypt recently participated in the meetings of the European Bank for Reconstruction (EBR) held in London with 61 member states attending.

The aim of these meetings was reviewing the Bank's activities in the 1ast 10 years and probing its plan in the coming five years.

In his speech before the EBR meetings, Hassan Khedr, Minister of Supply and Home Trade and Egypt 'a Governor in the EBR asserted the importance of introducing new mechanism that guarantees the participation of Egyptian contracting companies in the EBR's projects.

Khedr said that the Egyptian contracting companies own technical capabilities, expertise and labour force which qualify them to implement projects financed by the EBR.

Khedr proposed forming a, consortium comprising construction companies of the EBR member states, asserting that this consortium would not contradict with the principle of competition among these companies. He called for giving non-European member states in the EBR an opportunity to contribute in the Bank's activities.

On the sidelines of the meetings, the Egyptian Federation of Constructors has signed a cooperation protocol with its British counterpart whereby the Egyptian contracting companies will obtain contracts to carry out projects financed by European Bank for Reconstruction.

It is worth mentioning that the Bank is financing projects in East European states and working out restructuring programmes for the countries which are carrying out economic reform.

Previous Stories:
  Mubarak meets EIB Chairman   (4/11/2001)
  European Investment Bank extends two soft loans to Egypt   (4/10/2001)
  Egyptian-EU final partnership accord to be signed   (3/29/2001)

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