The project, financed by the Euro-Mediterranean Investment and Partnership Facility (FEMIP), the EIB’s financial arm, supports the feasibility study and market analysis needed to base future financing for the project, which is intended to produce combination vaccines for domestic and regional markets.
VASCERA is Egypt’s leading state-owned vaccine, serum, and biotechnical medicine manufacturer, with over a century of experience in public health and vaccine production, supporting local and regional health markets.
The project represents a new combination vaccine production facility, aiming to increase vaccine production capacity and manufacturing capabilities in Egypt.
A timeline and location for the project have not yet been disclosed.
The agreement was inked by VASCERA, Egyptian Minister of Foreign Affairs, International Cooperation and Egyptian Expatriates Badr Abdelatty and EIB Vice President Gelsomina Vigliotti.
A portion of the new facility’s output will be earmarked for export to other African nations. The African Union targets increasing locally manufactured vaccines on the continent to 60 percent by 2040, up from the current one percent.
Egypt plans to increase spending on the healthcare sector by 25 percent in the new FY 2026/2027, which starts on 1 July.
Under its National Industrial Strategy, Egypt seeks to expand manufacturing activity and increase private-sector investment.
The industrial sector is expected to be the largest single contributor to the country’s growth in the upcoming fiscal year, accounting for 29 percent.
The agreement falls under the European Union’s Global Gateway Initiative, a strategy aimed at strengthening global health systems, boosting local manufacturing in partner nations, and improving early detection of global health risks.
It also comes within the framework of a €7.4 billion Strategic and Comprehensive Partnership signed between Egypt and the EU in March 2024.
Cairo received a €1 billion tranche under that macro-financial package earlier this year. The wider agreement covers economic stability, investment, trade, security, and migration.
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