The project is financed by the EIB with €135m, along with a €30m grant from the European Union managed by the EIB. Additional funding comes from the French Development Agency and other financing entities.
Egypt signed two agreements amounted to €621m with the European Investment Bank (EIB) and the SPE Capital Fund to develop Green Sustainable Industries (GSI) and enhance investment in shares of private sector companies in strategic sectors, according to a statement released by Ministry of International Cooperation (MoIC).
The first agreement is the green sustainable industries project agreement, valued at €271m, which was signed by Minister of MoIc, Rania Al-Mashat, and Minister of Environment, Yasmin Fouad.
The project is financed by the EIB with €135m, along with a €30m grant from the European Union managed by the EIB. Additional funding comes from the French Development Agency and other financing entities.
The Implementation of the program will be carried out by the Environmental Affairs Agency and the National Bank of Egypt.
Al-Mashat also witnessed the signing of an agreement between the EIP and the SPE Capital Fund, worth €350 million, to enhance the fund’s investments in shares of high-growth companies.
The EIB provided €790 million in investments across 19 equity funds over the past 5 years to support Egypt’s private sector, Al-Mashat added.
During the period from 2020 to 2023, the EIB’s total private sector financing in Egypt amounted to approximately €2.8 billion.
