European Investment Bank
The purpose of the meeting was to discuss the EIB's financial and technical support for crucial investments that enhance economic opportunities for millions of Egyptians.
The funding will be divided into two parts: firstly, €28 million will be directed towards enhancing risk management and credit guarantee mechanisms, specifically tailored to meet the financing needs of small and medium-sized enterprises (SMEs). Secondly, €32 million will be allocated to support the Comprehensive Technical Education Initiative in Egypt
The purpose of the visit was to meet with the newly appointed President of the EIB, Calviño, and explore opportunities for enhancing collaboration and future joint efforts in line with the bilateral cooperation strategy between Egypt and the bank
The project aims to support the green transformation in the industrial sector by implementing climate change and environmental sustainability measures.
The new HQ will enhance the bank’s cooperation with Egypt and Middle Eastern and North African (MENA) partners, as well as open “new opportunities to advance development efforts in the coming years,” according to an official statement
This came during Vigliotti’s visit to Money fellows, as a part of the EIB's initiative to explore investment opportunities in Egypt, supporting sustainable financial inclusion in the country.
Rapaille showed deep interest in the Nexus of Water, Food and Energy (NWFE) as well as NWFE+ for the transportation sector.
The first technical assistance programme will further strengthen credit risk management and adoption of SME financing best practice to enable Banque Misr to increase financing for smaller companies.
Minister of Foreign Affairs Sameh Shokry met Monday with President of the European Investment Bank Werner Hoyer within his visit to Luxembourg.
The agreement came within the framework of the strategic relations between the government and the European Investment Bank, to support Development efforts, within the framework of the state’s vision 2030 and its quest to achieve sustainable development goals.
During the tour, the members of the delegation expressed their happiness with the visit.
Maait also referred to enhancing the participation of the private sector in economic activity; as it is the locomotive of job-rich growth
The minister said he discussed with Palanza means to boost joint cooperation in light of the electricity ministry's keenness on benefitting from its expertise in the fields of energy, gas emission reduction and green hydrogen production as well as power linkage projects especially the one with Cyprus and Greece.
Director of the European Investment Bank Neighboring Countries Flavia Palanza said, the bank is proud to work with Banque Misr and hailed the partnership’s effect on the lives of people in Egypt, it said.
The bilateral strategic partnership between Egypt and the European Investment Bank dates back to 1979 with a portfolio amounting to nearly 10.6 billion euros to finance public and private collaborations and support social and economic development.
“The objective of financing the urban transport sector with €1.1 billion is to enhance the transition from private cars to a more efficient means of transportation” the Minister noted.
Al-Mashat clarified that €1.1 billion is to finance three projects in the transportation sector with the National Authority for Tunnels.
This includes more than €10 billion of COVID-19-related investment to improve public health, strengthen public services and back investment by companies in sectors hit by the pandemic.
International Finance Corporation (IFC) officials in Egypt confirmed their support for the government's vision on consulting with its private sector partners, and supporting private companies during the current crisis.
The financing will contribute to improving sanitation services for people in Alexandria, the bank said in a statement obtained by MENA on Monday.
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