The Official Gazette has published Presidential Decree No. 70 of 2025 issued by the President of the Arab Republic of Egypt, which approves Decisions No. 259 and 260 of the Board of Governors of the European Bank for Reconstruction and Development (EBRD). The decree concerns the amendment of the Agreement Establishing the Bank, with the aim of enhancing the geographical expansion of the EBRD’s operations into Sub-Saharan Africa and Iraq. It also includes the removal of legal restrictions related to the capital used for ordinary operations. This decision was published in Issue No. 25 on June 19, 2025.
Article One of the decree states the following:
“Approval is hereby granted for Decisions No. 259 and 260 of the Board of Governors of the European Bank for Reconstruction and Development concerning the amendment of the Agreement Establishing the Bank, enabling the geographical expansion of its operations in Sub-Saharan Africa and Iraq, and the removal of legal restrictions on private capital in ordinary operations, subject to ratification.”