To boost the recovery of global tourism, the European Bank for Reconstruction and Development (EBRD) and the United Nations World Tourism Organization (UNWTO) joined forces in June to support countries that are among the most dependent on tourism for jobs and economic growth.
Their global technical assistance package builds on measures already taken by the EBRD under its crisis Solidarity Package to support existing clients in their handling of the losses caused by Covid-19 lockdowns. The aim now is to expand on that client-level support package with country-level technical assistance to facilitate the fast and sustainable recovery of tourism. On 12 January 2021, Egypt signed a national package geared to its own needs.
The EBRD is committing all of its activity in 2020-21 to helping its regions counter the economic impact of the coronavirus pandemic, with investment expected to reach up to €21 billion.