Egypt-EIB cooperation portfolio values $3.6 billion in 18 development projects
Egypt enjoys strong relations and a huge portfolio size with the European Investment Bank (EIB), in light of the role played by the Ministry of International Cooperation to develop and strengthen economic relations with multilateral and bilateral development partners and international institutions.
These efforts are done in a way that enhances the country’s development vision.
The European Investment Bank (EIB) is the financing arm of the European Union and the Climate Bank for the continent of Europe, and one of the largest international multilateral institutions in the world, and one of the largest providers of climate finance.
The EIB provides financial and non-financial services in more than 160 countries around the world, where joint relations between the Arab Republic of Egypt and the European Investment Bank began in 1979, where the bank works, as the financing arm of the European Union, to provide concessional development financing and technical support for projects for the government and private sectors. Since this date, the bank has pumped investments worth 13.7 billion euros into the government and private sectors.
The year 2020 is considered a new starting point for joint relations between Egypt and the European Investment Bank, as a joint statement was issued to enhance economic cooperation and support relations with the government and private sectors, during a meeting with Dr. Rania Al-Mashat, Minister of International Cooperation, and Flavia Balanza, Director of Financing Operations for Neighboring Countries of the European Union. At the European Investment Bank.
In light of cooperation with the European Union, a new partnership framework was developed with the European Investment Bank for the years 2021-2027, which enhances areas of joint cooperation, especially in the sectors of health, education, environment, energy, water treatment, transportation, agriculture, and supply, and supports joint work with the private sector, within the framework of the initiative “Team Europe” through which the European Commission and the EU Neighborhood, Development and International Cooperation Instrument (NDICI) are aimed at stimulating the green transition and promoting sustainable development efforts.