In an interview with MENA, Palanza said the EIB has accelerated the pace of operations it carries out in Egypt in the past four years.

Egypt is one of the largest and most important economies in Africa and the Mediterranean region, she said, adding that Egypt's hosting of the COP27 conference in November reflects Africa's commitment to the climate agenda.

She also praised the Central Bank of Egypt's (CBE) decision to up the interest rate amid the ongoing Ukrainian-Russian conflict and global hikes in oil prices.

Palanza expressed confidence that international partners, such as the EIB and the World Bank, will support Egypt to overcome the impact of inflation.