EIB to provide Egypt’s NWFE projects with $4.41 bln

Egypt has signed a partnership with the European Investment Bank (EIB) to support the Nexus of Water, Food, and Energy (NWFE) programme with $4.41 billion, said the Minister of International Cooperation, Rania al-Mashat on Monday.

Al-Mashat highlighted Egypt’s progress in infrastructure development, noting that the country has seen significant growth in the sector during recent years, boosted by strong political will and partnerships between the government and the private sector.

Al-Mashat also discussed Egypt’s cooperation with the EIB and its support of sustainable infrastructure and clean energy transition in Egypt, with the EIB’s development cooperation portfolio with Egypt being its second-largest, with a total of $4.5 billion.

Al-Mashat’s comments came during the EIB’s MED Conference, which was jointly organized by the Spanish Presidency of the European Union and the Union for the Mediterranean.