Titled Shaping Tomorrow, the publication showcases EIB-backed projects in Egypt, including Cairo Metro expansions, the 50 million euro Gulf of Suez wind farm in Ras Ghareb, and a 172 million euro wastewater treatment plant in Fayoum.
The book also highlights industrial and private-sector investments, including a 3.6 million euro EIB loan to Huhtamaki’s Egypt unit to recycle solvents used in film manufacturing, and a 6.7 million euro investment in Flex Films to convert recycled plastic bottles into food-grade packaging materials.
Several private equity investments are featured, including the EuroMena funds, which manage more than 350 million euros in Egypt-focused investments. The EIB has contributed 43 million euros to the first three EuroMena funds, aimed at supporting job creation and local businesses.
According to the ministry, many of the projects fall under Egypt’s Nexus of Water, Food and Energy (NWFE) programme, which focuses on infrastructure, renewable energy, and resource efficiency.
This comes as Egypt focuses on Narrative for Economic Development, to address reaching sustainable macroeconomic stability goals through fiscal and monetary policies, highlighting the importance of the Suez Canal, implementing incentives for the real estate market, and addressing industrial development, local and foreign investments, foreign trade, green transition, the non-banking financial sector, and labour market efficiency.
Egypt is the EIB’s largest recipient outside the European Union, with nearly 14 billion euros in financing since 1979 across 127 public and private sector projects.
The release comes as Egypt prepares to receive a second 1 billion euro tranche from the European Union next week under a 7.4 billion euro financing package agreed in March 2024 as part of the Egypt–EU Strategic and Comprehensive Partnership. The EIB has also recently approved $150 million in financing for Norwegian renewable energy firm Scatec’s Obelisk solar power project in Upper Egypt.
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