Egypt advanced talks with the European Bank for Reconstruction and Development (EBRD) on financing the upcoming airborne geophysical survey and explored new financing avenues for mining projects. This came during Minister of Petroleum and Mineral Resources Karim Badawi’s visit to London, where he led the Egyptian-British business delegation.
In a meeting with Anass Joundy, South and Eastern Mediterranean lead banker for Natural Resources at EBRD, Badawi underscoredd Egypt’s progress toward becoming one of the region’s most competitive destinations for mineral exploration and production. The airborne survey will map potential deposits of critical and rare minerals, lower exploration risks, and improve project viability.
Badawi met Deutsche Bank officials to explore cooperation on financing mechanisms for mining ventures and supporting new investor entry. Discussions focused on leveraging the bank’s expertise in project financing and financial services to boost foreign investment and enhance revenue management.
In talks with Mark Robinson, Executive Director of the Extractive Industries Transparency Initiative (EITI), both sides examined efforts to strengthen governance practices and advance Egypt’s implementation of EITI standards.
Robinson praised Egypt’s growing appeal as a regional exploration hub and welcomed reforms that improved regulatory clarity. Both parties emphasized responsible investment, community engagement around mining sites, and measures reinforcing sector credibility.
Badawi’s visit to London is a part of the Egyptian-British business mission following his Australia trip, where Egypt signed two Letters of Intent with Curtin and Murdoch Universities for training programs and a Memorandum of Understanding with Xcalibur for nationwide airborne and satellite geological surveys.
