EIB ups its investments in Egypt to €7.3 billion

European Investment Bank (EIB) is actively supporting the Egyptian economy since total investments in the country had increased to €7.3 billion.

EIB has financed multiple projects in Egypt of high priority for the government, notably in sectors of renewable energy, transportation, portable water and sanitation.

Additionally, the European bank has supported small and medium–sized industries through providing Egyptian banks with credit lines.

EIB is considered to be one of Egypt’s strategic partners, said the minister of international cooperation Sahar Nasr.

Relations between EIB and Egypt date back to 1977. The bank has launched its resident office in Cairo in 2003,