Egyptian Prime Minister Hisham Kandil will participate on Friday in the two-day annual meeting and business forum of the European Bank for Reconstruction and Development (EBRD) in Turkey.

He convened on Wednesday with ministers of planning and investments to arrange for his participation, as he will head the Egyptian delegation on behalf of President Mohamed Mursi, reported the state news agency.

EBRD, Founded in 1991, uses the tools of investment to help build market economies and democracies in 30 countries from central Europe to central Asia.

The bank extened its mandate last year to include Egypt and other Arab countries following the Arab Spring uprisings. 

On the sidelines of these meetings, Kandil will participate in the joint Egyptian-Turkish Business Council to shed the lights on investment projects and probe increasing Egyptian exports to Turkey.

Turkey has agreed on a $2 billion budget support package to Egypt last year.

The trade exchange between the two countries rose to $5 billion in 2012.