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Keep Updated On The Progress

News and more

Keep Updated On The Progress

Saturday, 08 February 2020 Sector(s) : Private Sector

Egypt and EIB announce joint bilateral partnership

February, 2020–The Minister of International Cooperation for the Arab Republic of Egypt H.E. Dr. Rania Al-Mashat and the Director of Operations in EU Neighbouring Countries of the European Investment Bank Mrs. Flavia Palanza have agreed in a joint statement to enhance the economic cooperation to push forward inclusive economic growth and private sector development.

The Minister of International Cooperation of Egypt H.E. Dr. Rania Al-Mashat said: “The EIB is our strategic partner with bilateral cooperation since 1979. Our partnership has led to the implementation of multi-sectoral projects that supported the socio-economic development and job creation in the country. We look forward to stepping up cooperation in new sectors that help deliver Egypt's 2030 vision consistent with the UN Sustainable Development Goals”. The Director of Operations in EU Neighbouring Countries of the European Investment Bank Mrs. Flavia Palanza said: “The EIB stands ready to support the Arab Republic of Egypt with its financing of both the public and private sectors, in cooperation with the EU and other IFIs. Besides expanding on its traditional areas of financing (water, wastewater, energy, transport, SME financing), the EIB is interested to support new sectors related to climate change adaptation and mitigation, as well as the social sectors (health and education). The EIB expects in 2020, the first year of enhanced cooperation, numerous operations developed over recent years will reach maturity”.