EIB eager to fund education projects in Egypt

CAIRO – 23 November 2019: Vice-president of European Investment Bank (EIB) Dario Scannapieco expressed interest in funding projects aimed at achieving social development in Egypt, mainly Education.

In a meeting with Prime Minister Mostafa Madbouly on the sidelines of Africa 2019 forum, Scannapieco discussed on Saturday current and future cooperation with Egypt in the sectors of transportation, electricity, renewable energy, and water. The foreign official clarified that, in addition to funding infrastructure projects, the EIB is ready to finance social development endeavors in Egypt.

On the other hand, the prime minister underlined that Egypt is eager to boost the number and quality of technology universities and technical schools. Madbouly clarified that Egypt currently has three technology universities but aspires to establish at least one in each governorate.

The EIB vice-president expressed appreciation for the ties with Egypt that extends for more than 40 years, and congratulated the government for the outstanding performance of the Egyptian economy showcased by ranking institutions.

Scannapieco added that the purchase of T-bonds, whose duration is 40 years, by a large number of investors reflects a great trust in the Egyptian economy.

Africa 2019 is held on November 22-23 in Egypt’s New Administrative Capital and is attendee by African heads of states, ministers, and 2,000 investors and development partners.