Ahmad 
Egyptian Minister of International Cooperation, Rania Al-Mashat, announced that Egypt has finished preparing a reform package in cooperation with the European Union, and it will be discussed during a conference to be held in Cairo at the end of this month.
She stressed that the financial support packages from the World Bank and the European Union depend on a matrix of structural reforms.
Al-Mashat indicated that Egypt relies on a governance system to obtain funds and explained that it does not expect to obtain European Union support before the end of this year, given the constitutional procedures necessary for the agreement to enter into force.
The Minister also discussed the role of the New Development Bank, explaining that it relies on mechanisms different from other financing institutions, and focuses its strategy on the areas of sustainable transport, ports, energy, and education.
She confirmed that Egypt is implementing a fiscal tightening policy, which makes the priority for obtaining financing directed to the private sector rather than the government.
Al-Mashat added that so far there are no ready-made projects in cooperation with the private sector, and therefore the focus is on introducing the community to the bank.
She also mentioned that dealing in local currencies had begun among some BRICS countries but indicated that Egypt had not reached an agreement in this regard yet.
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