EIB's investments in Egypt record €8.7 through 95 projects

CAIRO - 7 November 2019: Investments of the European Investment Bank (EIB) in Egypt hit €8.7 billion through 95 projects, Director Operations in Neighbouring Countries at EIB Flavia Palanza said Thursday.

Palanza added in a statement that her bank's investments in the country encompass the fields of renewable energy, transportation, water, sanitation, and small and medium enterprises (SMEs).

This came during Palanza's meeting with Egyptian Minister of Investment Sahar Nasr to discuss mutual cooperation.

According to Palanza, EIB is working on increasing its investments in Egypt in the fields of infrastructure, private sector and SMEs, which is in favor of sustainable development and inclusive growth.

In September, Vice President of EIB Dario Scannapieco said that EIB is keen on strengthening the partnership with Egypt during the upcoming period.

Meanwhile, Head of the Human and Community Development Sector at the Micro, Small and Medium Enterprise Development Agency (MSMEDA) Mohamed Massoud said that work has started for implementing the €15-million grant agreement signed with the European Investment Bank (EIB).