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Saturday, 14 December 2019

EIB's investments in Egypt have reached €8.7 billion: EIB vice president

Doaa A.Moneim , Monday 30 Sep 2019
Sahar Nasr
Egypt's Minister of Investment and International Cooperation Sahar Nasr
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Egypt's Minister of Investment and International Cooperation Sahar Nasr said that Egypt's government is continuing its social and economic reform programme and stimulating the private sector to inject more investments into the domestic market.

Nasr said during her address at the European Investment Bank's (EIB) conference on Monday that the government has introduced legislative reforms that allow more participation of the private sector.

Furthermore, Egypt is committed to boosting cooperation in economic development in the region to provide more job opportunities and support all initiatives that aim to achieve stronger cooperation between Mediterranean countries.

Meanwhile, vice president of the EIB Dario Scannapieco said that the EIB is eager to enhance the cooperation with Egypt in the coming phase, praising President Abdel-Fattah El-Sisi's initiative in investing in human capital.

Scannapieco revealed that the EIB is maximising its investment in this sector, in addition to infrastructure, the private sector, and small and medium sized enterprises in favour of sustainable development and inclusive growth.

"EIB investments in Egypt hit €8.7 billion in more than 95 projects, which is a priority for Egypt's government, including renewable energy, water and sanitation, transportation, and SMEs sectors," he said.

Nasr invited the EIB to participate in the 'Invest in Africa' forum that will be held in Cairo in November, which is a significant chance for the EIB to boost development cooperation in Egypt and all African countries.

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