The EIB has been a key and strategic partner for Egypt for more than four decades, Vigliotti said, adding that this role is now further bolstered with the coming cooperation between the EU and Egypt.

“I am excited and proud to be attending this conference," said Vigliotti on the eve of the two-day event, which will held under the title "Unleashing Egypt's Potential in a Rapidly Changing World" on 29-30 June in Cairo.

The Egypt-EU Investment Conference will be the first major step in implementing the Egypt-EU Strategic and Comprehensive Partnership agreed upon by both sides during the Egypt-EU Summit in March 2024 in Cairo.

Under the agreement, Egypt would receive €7.4 billion in EU funding until 2027.

The conference 2024 will see the participation of a wide range of high-level government officials from Egypt and EU countries, as well as representatives of development partners and multilateral institutions.

European investors will discuss and review a wide array of investment opportunities in various fields in Egypt at the event.

“We continue to encourage and prioritize private investment and during this conference, I will confirm EIB support for €600 million of new private sector investment," Vigliotti said in exclusive statements to Ahram Online.

​The package will help Egyptian companies harness renewables and cut pollution as well as aid Egyptian pharmaceutical and consumer companies to expand regionally, she noted.

The EIB will also highlight new engagements aimed at unlocking large-scale climate adaptation investment and reducing water pollution, according to Vigliotti.

The bank will also outline its expected future financing of large-scale green hydrogen projects in Egypt, she added.

Vigliotti pointed out that climate action is one of the top policy priorities for the EIB and Egypt has incredible potential to develop and expand its use of renewable energy.

“This year we marked the inauguration of a wind power plant in the Gulf of Suez, to which the Bank had contributed approximately 30 percent of its total financing. Today, I am excited to be announcing more EIB backing for new initiatives to unlock future large-scale investment to develop green hydrogen, climate adaptation and reduce water pollution across Egypt,” she added.

The EIB is the world’s largest international public bank and the largest international financier of private-sector investment in Egypt in recent years.

From 2020 to 2023, the bank provided an overall investment of more than $2.8 billion in support for private sector investment in the country.