EIB urges private sector to investment in Mediterranean region

CAIRO - 13 September 2017: European Investment Bank (EIB) held an international conference in Cairo to call on the private sector to take the lead to invest in creating job opportunities in the Mediterranean region.

In partnership with the Egyptian Ministry of International Cooperation and Investment, the European Union Delegation to Egypt and the Union for the Mediterranean (UfM), EIB held a conference in Cairo entitled: “Boosting Investments in the Mediterranean Region.”

Out of its keenness to offer new job opportunities seemingly for youth and women, the conference participants discussed regional challenges and economic opportunities in the context of the Bank’s recent efforts to build economic resilience in the Mediterranean countries.

“We believe the role that the private sector plays in boosting economic activity and creating jobs for the unemployed and new entrants to the labor market is absolutely key. This is why the EIB is stepping up its support to the private sector under its Economic Resilience Initiative. We recently approved EUR 600 million ($712 million) for SME finance in Egypt, Jordan, Lebanon, Tunisia and Morocco under the new initiative. Now we are looking at more good projects to support,” said Dario Scannapieco, Vice-President of the EIB.

Ambassador Ivan Surkoš, head of the European Union Delegation to Egypt said, "Economic development is a critically important challenge, and to bring benefits it has to be sustainable, inclusive and guarantee decent job opportunities for all, especially young people and women."