EIB pledges stronger role in Egypt’s private sector growth – VP

The European Investment Bank (EIB) is committed to expanding access to finance and supporting sustainable development in Egypt through strategic partnerships with the government and private sector, EIB Vice-President Gelsomina Vigliotti has said.

Speaking at the Development Financing to Foster Private Sector-Led Growth & Jobs conference, hosted by Egypt’s Ministry of Planning and Economic Development, Vigliotti stressed the bank’s role in promoting long-term development in priority sectors such as renewable and clean energy.

Vigliotti noted that EIB’s project finance team is working closely with private sector partners to advance Egypt’s national energy strategy. She added the bank has recently formed new partnerships with local financial institutions to support targeted financial planning programmes and introduce customised financing tools to boost economic participation.

She also revealed that the EIB is developing three new investment programmes under the European Fund for Sustainable Development Plus (EFSD+), aimed at mobilising private sector resources to support economic growth, energy infrastructure, and traditional productive sectors.

One such initiative includes an EU-funded grant agreement to launch a green industry project to help energy-intensive sectors transition to more efficient, sustainable models.

Vigliotti underscored that the bank’s focus on digital transformation is a core element of its development approach, rooted in transparency and trust. She highlighted that since 1979, the EIB has invested over €15 billion in development projects across Egypt — the highest amount in any non-EU country.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama