In her remarks during the Conference on “Development Financing to Empower the Private Sector: Economic Growth and Job Creation,” Ms. Gelsomina Vigliotti, Vice-President of the European Investment Bank (EIB), affirmed the Bank’s strong and ongoing commitment to its strategic partnership with the Government of Egypt and with the country’s dynamic private sector.
She emphasized that the EIB stands ready to continue working closely with its Egyptian partners to broaden access to financing, strengthen institutional capacities, and generate wider developmental impact through sustainable and high-quality investments.
Ms. Vigliotti made these remarks during the conference convened by the Ministry of Planning, Economic Development and International Cooperation, which was held under the theme of “Development Financing to Empower the Private Sector: Economic Growth and Job Creation.” The conference took place under the patronage — and in the presence — of H.E. Dr. Mostafa Madbouly, Prime Minister of Egypt, and was attended by H.E. Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development and International Cooperation, as well as a number of ministers, representatives from the Federation of Egyptian Chambers of Commerce and the Federation of Egyptian Industries, business councils, ambassadors, international development partners, and key stakeholders from both the public and private sectors.
In her statement, the Vice-President highlighted the EIB’s pivotal role in supporting Egypt’s long-term development goals, particularly in sectors that are critical to sustainable growth — most notably the renewable and clean energy sectors, which she described as forming the backbone of Egypt’s green and inclusive economic transformation. She noted that the Bank’s project finance team is working in close coordination with partners from Egypt’s private sector to support the implementation of the country’s National Energy Strategy, which targets raising the share of renewable energy in the national energy mix to 42% by 2030.
She further stated that, over the past few days, the EIB has entered into new, strategic partnerships with several domestic financial institutions. These partnerships aim to implement targeted financial planning programmes, build market capacity, and provide tailored financial instruments designed to broaden the base of economic participation and enhance private-sector engagement. She added that, beyond infrastructure financing, the EIB plays a leading role as an investor in Egypt’s innovation and entrepreneurship ecosystem. It is one of the country’s most active supporters of venture capital and private equity funds, particularly through its Fund Support Programme, which finances companies that are developing new business models, opening new and emerging markets, and creating high-value, sustainable employment opportunities.
Ms. Vigliotti went on to explain that the Bank is currently developing three new investment initiatives under the framework of the European Fund for Sustainable Development Plus (EFSD+), the EU’s primary financial tool for catalyzing private-sector investment in development. These upcoming programmes are specifically designed to mobilize additional private capital in support of Egypt’s economic development, energy infrastructure upgrades, and the expansion of productive sectors — with a focus on job creation and value-added growth.
She also announced the recent signing of a grant agreement to implement the Sustainable Green Industries Project in Egypt. This initiative, funded by the European Commission, is aimed at accelerating the structural transformation of high-energy-intensive industrial sectors. The project will support these sectors in transitioning toward a more efficient, competitive, and sustainable industrial model, thereby reinforcing Egypt’s broader green transition agenda and positioning the country as a regional leader in low-carbon industrial development.
The Vice-President also underscored that the Bank’s emphasis on digital transformation is not a short-term initiative but part of a long-term, integrated vision based on the principles of trust, transparency, and the effective use of advanced technologies to support sustainable development. She stressed that this digital agenda is already bearing fruit, with concrete results and far-reaching impact on the ground.
Concluding her remarks, Ms. Vigliotti pointed out that Egypt continues to hold a unique and prominent place in the EIB’s global investment portfolio. Since 1979, the Bank has financed development projects in Egypt worth over €15 billion, making Egypt the largest recipient of EIB investments outside the European Union — a testament to the strength of the partnership and to the shared commitment to promoting inclusive and sustainable development across the country.