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EIB finances Egypt with EUR 14bn in 4 decades

EIB finances Egypt with EUR 14bn in 4 decades
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Cairo – Mubasher: The European Investment Bank (EIB) has pumped about EUR 14 billion and funded over 110 projects in Egypt since 1979, Minister of International Cooperation, Rania El-Mashat, announced.

El-Mashat pointed out that the EIB’s investment in the private and public sectors in Egypt accounted for 53% and 47%, respectively, of the total funding.

The minister noted that Egypt has been implementing developments in line with the National Climate Change Strategy 2050 to carry out several projects to face the effects of climate change.

In 2021, the development financing of the Arab Republic reached $8.70 billion, of which 18% was pumped into to the agriculture and food security sector.

Meanwhile, investments in the Egyptian transport and communications sector represented 13% of the total financing, while 12% was allocated to the energy sector.