Egypt secures EUR 3.35bn development financing from EIB

Cairo - Mubasher: The European Investment Bank (EIB) has granted around EUR 3.35 billion in development financing to Egypt's public and private sectors in 2020 and 2021, the Egyptian Minister of International Cooperation, Rania El-Mashat, announced.

The bank has reached cooperation agreements worth EUR 1.5 billion with the government to develop vital sectors, El-Mashat said during a meeting with the EIB Vice President, Ambroise Fayolle.

In the meantime, EIB has provided the private sector with development financing valued at EUR 1.85 billion.

During the meeting, the Minister highlighted the ongoing projects between the government and the bank across the renewable energy and environmental sectors, including the wind plant in the Gulf of Suez and the electricity transmission project.

Mubasher Contribution Time: 16-May-2022 11:12 (GMT)
Mubasher Last Update Time: 16-May-2022 11:12 (GMT)