EIB’s Egypt investments hit €8.7 billion: vice-president

The European Investment Bank’s (EIB) investments in Egypt reached €8.7 billion ($9.5 billion) through 95 projects, vice-president Dario Scannapieco said on Monday.

“EIB investments in Egypt hit €8.7 billion in more than 95 projects, which is a priority for Egypt’s government, including renewable energy, water and sanitation, transportation, and SMEs sectors,” Scannapieco said in a statement released by the Egyptian Ministry of Investment.

The EIB, Europe’s largest development bank, is eager to enhance its cooperation with Egypt in the coming phase, Scannapieco added, praising President Abdel-Fattah El-Sisi’s initiative in investing in human capital.

The European bank is maximising its investment in the human capital sector as well as infrastructure, the private sector, and small and medium-sized enterprises in favour of sustainable development and inclusive growth, he said.