European Investment Bank investments in Egypt reach €8.7 billion

The European Investment Bank (EIB) have reached total investments in Egypt of EUR 8.7 billion injected into more than 95 projects, the bank’s director for eastern and southern neighbourhood, Flavia Palanza, said.

Investments have been pumped into several sectors, including renewable energy, transportation, water and wastewater projects as well as small- and medium-sized enterprises (SMEs), Palanza added in a statement released by the Egyptian Ministry of Investment on Thursday.

The lending arm of the European Union aims to increase its investments in these sectors, along with the infrastructure sector in a bid to achieve sustainable development, Palanza noted.