The European Investment Bank expands its presence in Cairo.. What happened?
Shrouq
Egypt is adopting an ambitious plan to increase the attraction of foreign direct investments, as these investment projects represent great importance in maximizing Egypt's economic returns.
Foreign direct investments in Egypt have increased significantly recently.
Financial indicators of the volume of foreign direct investments in Egypt by the end of the fiscal year 2023 indicate a growth of 10% over the last fiscal year.
The European Investment Bank expands its presence in Cairo
In this context, the European Investment Bank (EIB) today, Tuesday, officially opened its new regional center in Cairo to enhance engagement and cooperation with partners from the public and private sectors throughout the Middle East and North Africa region.
As the largest and most environmentally conscious multilateral lender, the European Investment Bank helps economies thrive, generate jobs and promote equality.
Since 1958, the European Investment Bank has provided loans and expert advice to thousands of projects in more than 160 countries.
The Bank supports the economic recovery in Europe by implementing the European Strategic Investment Fund initiative, part of the Invest Europe Plan.
European Investment Bank
The European Investment Bank is the only bank owned by and represents the interests of EU member states, and it works closely with other EU institutions to implement EU policy.
The European Investment Bank is the world's largest multilateral lender and borrower.
It provides funding and expertise to sustainable investment projects that contribute to EU policy objectives. More than 90% of its activity is in Europe, but it is also a major investor worldwide.
European Investment Bank Global Regional Centre
The EIB Global Regional Center was announced by Dr. Mostafa Madbouly, Prime Minister, Rania Al-Mashat, Minister of International Cooperation, and Gelsomina Vigliotti, Vice-President of the EIB.
It was officially opened in a ceremony attended by 150 Egyptian, regional and international figures today.
The EIB is Egypt's leading international financial partner and has provided financial and technical support for investment in climate action, business, energy, water and transport, improving opportunities and services across Egypt for more than 40 years.
The bank confirmed that Egypt welcomes its decision to locate its regional location here in Cairo, especially since this step will deepen the partnership between the two sides and open new opportunities in the coming years.
The new regional center will deepen the European Investment Bank's cooperation with Egypt and countries from Lebanon to Morocco.
This step will lead to a significant increase in foreign investments, especially Gulf ones, during the coming period in a large number of Egyptian economic sectors, providing millions of job opportunities and addressing foreign currency shortage crises.
