Egypt Receives €6bln from European Investment Bank : CEEBA

Egypt has received €6billion funding from the European Investment Bank (EIB) representing 25% from the total value of submitted finance for Mediterranean countries, Chairman of the Confederation of European Egyptian Business Associations (CEEBA) Nader Riad asserted.

50% of funds provided to the Egyptian Private sector in industry, energy, transportation and small and medium projects, stressing that EU is the major commercial, investment and tourism partner to Egypt, Riad noted.

The trade exchange between Egypt and EU accounts for 32% from the total trade between Egypt and the world that estimated at €23.4billion.

It is schedule that Alexandria will host many international conferences within the upcoming period including the third Euro-Mediterranean Conference for ready-made clothes and the fourth Euro-Mediterranean for tourism beside renewable and new energy conference.