The visit highlights the growing partnership between Egypt and the EIB, aimed at promoting sustainable development, addressing climate change, and stimulating economic progress.
This funding will be allocated in two parts: €28 million will be directed towards bolstering risk management and credit guarantee mechanisms, specifically tailored to address the financing requirements of small and medium-sized enterprises (SMEs)
Minister Al Mashat is scheduled to meet EIB President Calviño and the discussions will look into enhancing areas of joint cooperation and future plans for joint efforts within the framework of the bilateral cooperation strategy
The EIB’s choice to establish its new headquarters in Egypt reflects its confidence in the robust relations between the country and its EU partners
The European Investment Bank and the European Bank for Reconstruction and Development (EBRD) are providing a combined EUR 1 billion in finance for the project. Egypt will directly finance 15% of the project’s total cost, local media reported.
