EIB President, Egypt’s Al-Mashat discuss deepening cooperation on sustainable development

Daily News Egypt
2 Min Read

European Investment Bank (EIB) President Nadia Calviño met with Egyptian Minister of International Cooperation Rania Al-Mashat at the EIB headquarters in Luxembourg on Tuesday. The meeting focused on strengthening collaboration between Egypt and the EIB to support sustainable development, climate action, and economic growth.

President Calviño highlighted Egypt’s role as a key partner for the EIB, stating, “Today’s discussions pave the way for more collaboration on impactful investments in clean energy, sustainable transport, water, and SMEs across Egypt, particularly through the NWFE platform and the upcoming EU-Egypt Strategic and Comprehensive Partnership.”

Minister Al-Mashat emphasized the EIB’s crucial role as a development partner for Egypt. She noted, “The EIB is a leading financier of the private sector, actively collaborating with other development partners, and has been instrumental in Egypt’s Country Platform-NWFE.” She also welcomed the launch of the EIB Global Regional Hub in Cairo and expressed her desire to further strengthen the partnership.

The EIB boasts a long-standing partnership with Egypt, providing over €15bn for various projects over the past 45 years. Recent investments have supported venture capital, clean energy, water improvements, and sustainable transport initiatives. Additionally, the EIB leads the transport pillar of the Nexus of Water, Food and Energy initiative.

Discussions also covered potential EIB support for future public and private investments, including participation in the Egypt-EU investment conference planned for later this year in Cairo. EIB investments are expected to create skilled jobs, expand access to microfinance in rural areas, and support Egyptian companies in reducing energy costs and pollution.

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