The financing includes an $80 million investment by EIB Global, the bank’s development arm, into the RMBV North Africa Fund, a private equity and venture capital fund focused on Egypt and other North African markets. The fund aims to support private companies through capital and operational backing, with the EIB investment expected to mobilize up to $300 million in total financing across the region.
The agreement was signed during a visit to Cairo by EIB Vice President Gelsomina Vigliotti.
A second deal—signed between the EIB and the IFC’s Micro, Small and Medium Enterprises Development Agency (MSMEDA)—will channel $57.5 million into the Alta Semper II Fund, which invests in pharmaceutical and healthcare companies across North Africa and sub-Saharan Africa. Under the arrangement, the EIB will provide $37.5 million, while the IFC will contribute $20 million. The fund is managed by UK-based Alta Semper Capital and is expected to mobilize around $150 million for healthcare investments.
These two investments were signed under Egypt’s Narrative for Economic Development and in the presence of Planning and Economic Development Minister Rania Al-Mashat.
The narrative addresses achieving macroeconomic stability goals through fiscal and monetary policies, highlights the importance of the Suez Canal, outlines incentives for the real estate market, and addresses industrial development, local and foreign investments, foreign trade, green transition, the non-banking financial sector, and labour market efficiency.
Egypt has increasingly relied on development banks and private equity funding to support investment amid tight financing conditions and pressure on foreign currency inflows.
According to the planning ministry, the EIB has invested more than 1 billion euros in around 20 investment funds operating in Egypt and the region, supporting small and medium-sized firms in sectors including healthcare, finance, pharmaceuticals, retail, and technology.
Egypt is the EIB’s largest recipient of financing outside the European Union (EU), with nearly 14 billion euros committed since 1979 across 127 public and private sector projects.
Current cooperation priorities include renewable energy, climate-related financing, and water and sanitation infrastructure, in addition to cooperation on Egypt's Nexus of Water, Food, and Energy (NWFE) programme. The EIB recently approved $150 million in financing for Norwegian renewable energy firm Scatec’s Obelisk solar power project in Upper Egypt.
The announcement comes as Egypt prepares to receive a second 1 billion euro tranche from the EU next week under a 7.4 billion euro financing package agreed in March as part of the Egypt–EU Strategic and Comprehensive Partnership.
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