Latest in Tag: EIB Highlight
Latest in Tag: EIB
EIB exceeds target of channelling at least 50% of its total financing to climate action and environmental sustainability, well ahead of 2025 goal
NBE receives €500m and Alex Bank gets the rest €15m
The COP27 offered an opportunity for the EIB to cement cooperation and joint projects, including newly announced cooperation with Egypt in financing the NWFE programme’s pillars. Additionally, the European Investment Fund, which is part of the EIB Group, announced new financing that will support climate action investment with €2.5bn.
Africans and Europeans raised climate change and its consequences, such as food security and severe weather events, as their main concerns.
“The Bank is transforming faster than anyone could have expected to meet our climate commitments,” he added.
Egypt understands the critical importance of a sustainable blue economy for the future development of the country: Environment Minister
During press conference at COP27 in Sharm El-Sheikh on Monday, Hoyer added, “ At the same time the Intergovernmental Panel on Climate Change issued several dire warnings that the window to limit global warming and adapt to climate change impacts is rapidly closing. The United Nations just released a report saying the climate plans of parties under the Paris Agreement would put the world on track for around 2.5 degrees Celsius of warming by the end of the century.”
Vigliotti started her mission by participating in the inauguration of Adly Mansour Central Station on Sunday, the latest part of Line 3 of the Cairo Metro, for which the EIB provided €600m in financing.
The summit aims to serve as a platform to facilitate the exchange of experiences, ideas, and good practices in order to meet current challenges affecting the gender equality agenda globally
The meeting discussed proposals made by the EIB to cooperate with the Egyptian government within the framework of Egypt’s presidency of the UN Conference of Parties on Climate Change (COP 27), which will be held in Sharm El-Sheikh this November, noting the importance of relations with international financial institutions to advance efforts to implement climate pledges and provide innovative financing to enhance the role of the private sector in sustainable development.
We look forward to the bank’s efforts to reduce the cost of green finance in developing countries: Finance Minister
All means of transportation during and after the COP 27 in Sharm El-Sheikh will be environmentally friendly: Transportation Minister
The new developmental facility will be used to support TE in improving its mobile network coverage by deploying around 2,000 new mobile sites and installing additional capacity layers to its existing portfolio of cell towers.
Financial support is part of EIB’s Ukraine Solidarity Urgent Response
The announcements come ahead of the first in-person African Union – European Union Summit since the start of the COVID-19 pandemic.
Support targeted the short-term liquidity needs created by the crisis, but not “zombie” firms that were already financially weak
EIB provided Є1bn of financing to support 13 projects in Egyptian water, wastewater sector
Minister Al-Mashat reviewed the ongoing project for Egypt’s transport sector worth €1.13bn, which was signed last December, in addition to discussing future projects that will be implemented in the sanitation and transport sector.
EU accounts for only 7% of annual equity investments in both technologies, while US and China together account for 80%
Visit highlights support for community development in Egypt which is taking place in six governorates
The African Development Bank (AfDB) and the European Investment Bank (EIB) signed, on Wednesday, a joint partnership action plan highlighting their strengthened cooperation and mutual development priorities. The partnership also aims to showcase a strong shared emphasis on boosting public and private sector investment in Africa. The Joint Action Plan enables both institutions to grow …
Group increases financing to €77bn to combat COVID-19, climate crisis in 2020
LCP Fund II is a generalist private equity fund that primarily targets capital investments in small- and medium-sized enterprises (SMEs) and mid-market companies in Egypt.
In a statement, the minister added that the agreement between the two banks comes as part of a larger agreement approved by the EIB worth€1.9bn, where €1.1bn will be provided for the transport sector and €800m for SMEs.
Al-Mashat said meeting tackled how recently approved €1.1bn funding put towards financing 3 National Authority for Tunnels project
Over 25% of funds dedicated to women in business and climate action
The EIB has approved €16.6bn of new financing for projects across Europe and around the world. This includes over €10bn of coronavirus-related investment to improve public health, strengthen public services, and back investment by companies in sectors hit by the pandemic.
€3.2bn aid goes to public health, elderly care, targeted business support
Fayed also emphasised that Banque du Caire’s keenness to boost and diversify its foreign currency funding resources is directed at financing SMEs, which are a cornerstone in economic growth and sustainable development.
The partnership, delivered through the InnovFin Advisory programme, will see the EIB provide strategic financial advice and support to CEPI and its members on how best to accelerate vaccine development.