EBRD recommends allowing bigger role for private sector in development, new cooperation strategy with Egypt
The European Bank for Reconstruction and Development is working on a new cooperation strategy with the Ismail government that will focus on strengthening the private sector. Key elements of the four-year strategy include infrastructure development with a focus on power and water utilities, developing an energy efficiency strategy, and improving governance, Al Borsa quotes EBRD Egypt chief Philip ter Woort as having said. The government should give the private sector a more prominent role in its development strategy, Al Borsa quotes ter Woort as saying. Ter Woort declined to say how much EBRD planned to earmark to support its new cooperation strategy, nor did he divulge how much the bank is considering injecting in phase two of the feed-in tariff program. Separately, Al Mal claims EBRD may still finance FiT projects, but its involvement is contingent on how many companies sign on to the program.