Egyptian International Cooperation Minister arrives in Luxembourg, to meet new EIB President

Daily News Egypt
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Egyptian Minister of International Cooperation Rania Al-Mashat arrived in Luxembourg on Monday to visit the headquarters of the European Investment Bank (EIB), the European Union’s financial arm and climate bank.

This marks Al-Mashat’s first visit to the EIB since the appointment of its new president, Nadia Calviño, earlier this year. The meeting underscores the Ministry of International Cooperation’s commitment to fostering collaboration with international and regional institutions like the EIB, a longstanding development partner of Egypt.

Minister Al-Mashat is scheduled to meet with President Calviño to discuss areas of potential collaboration and future joint initiatives under the framework of the bilateral cooperation strategy between Egypt and the EIB for 2021-2027. The discussions will also focus on shared priorities between Egypt and the European Union.

Al-Mashat’s visit builds upon her previous engagement with the EIB, including meetings with the former president and participation in international forums. This engagement reflects the strong partnership between Egypt and the EIB, with Egypt being the bank’s largest operational area outside the EU and a major recipient of the bank’s private-sector financing.

The visit follows Al-Mashat’s participation in the 10th Egypt-EU Association Council in Belgium, where the Ministry launched a report titled “Egypt & Europe: A Shared Development Vision for Progress & Prosperity.” The report highlights the successful cooperation between Egypt and the Team Europe initiative from 2020 to 2023, with a dedicated chapter focusing on the EIB’s role as a key player in shaping this collaboration.

Nadia Calviño assumed the presidency of the EIB in January 2024, succeeding Werner Hoyer. She is the bank’s ninth president and the first woman to hold the position. Calviño previously served as Deputy Prime Minister and Minister of Economy of Spain, along with holding several positions within the European Commission.

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