( 3minutes read)
· European Investment Bank’s (EIB) board of directors approved to provide Egypt with €1.9 billion in funding. This was disclosed by the Egyptian Minister of International Cooperation, Rania Al Mashat
· The strategic relations between Egypt and the EIB dates back to 1979. This has resulted in the implementation of a large number of developmental projects.
· EIB supports the private sector and small and medium enterprises in Egypt. A total of € 9.7 billion has been invested by EIB so far in Egypt.
European Investment Bank’s (EIB) board of directors approved to provide Egypt with €1.9 billion in funding. This was disclosed by the Egyptian Minister of International Cooperation, Rania Al Mashat
This point came up at a discussion between Minister of International Cooperation Rania Al-Mashat and Director for Neighboring Countries at the European Investment Bank, Flavia Palanza, and Head of the European Investment Bank Representation for the Near East Alfredo Abad. They discussed the future cooperation framework between the Bank and Egypt in priority sectors to achieve sustainable development, particularly in transport, agriculture and health.
The meeting outlined the next steps to put into action the funding that has recently been approved worth €1.1 billion, financing three projects for the National Authority for Tunnels, namely the development and expansion of the Raml tram in Alexandria, the Abu Qir railway line in Alexandria as well, and the second line of the Cairo Metro.
The strategic relations between Egypt and the EIB dates back to 1979. This has resulted in the implementation of a large number of developmental projects.. EIB supports the private sector and small and medium enterprises in Egypt. A total of € 9.7 billion has been invested by EIB so far in Egypt.
