- EIB invests USD 137.5M in Egypt, supporting private sector growth and mobilizing regional investments across high-impact sectors, including healthcare.
- RMBV and Alta Semper funds receive USD 80M and USD 57.5M to accelerate sustainability and innovation.
- EIB provides EUR 2.7M in grants for advisory services on Cairo Metro Line 1 extension and Alexandria, Damietta water treatment projects.
European Investment Bank
The European Investment Bank (EIB) and the Egyptian government signed two agreements worth USD 137.5 million to boost private sector investments. This was signed during the visit of Ms. Gelsomina Vigliotti, Vice President of EIB, to Egypt.
Dr. Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, witnessed the signing of two agreements. It was also in the presence of Sheikh Omar Sila, IFC Regional Director, Mr. Basel Rahmy, CEO of MSMEDA, as well as private sector representatives.
Private Sector
Minister Dr Rania witnessed the signing of an agreement between the EIB, through its development arm EIB Global, and RMBV III North Africa Fund. Under this agreement, the EIB will invest USD 80 million in the third RMBV North Africa fund.
The investment aims to accelerate private sector development and enhance sustainability in Egypt. It is also expected to mobilize more than USD 300 million in investments into private sector companies under a North-Africa-focused regional investment strategy. The fund aims to provide financing and value-added support to local companies in high-impact sectors. Thus, it seeks to open new growth opportunities in Egypt and support regional growth. It also seeks to strengthen economic integration between Egypt and Europe.
Healthcare
Minister Dr Rania also witnessed the signing of an agreement between the European Investment Bank (EIB), the International Finance Corporation (IFC), the Micro, Small, and Medium Enterprise Development Agency (MSMEDA), and Alta Semper II Fund.
Under the agreement, the EIB will invest USD 37.5 million, while IFC will invest USD 20 million in the second Alta Semper fund. This aims to support the growth of pharmaceutical and healthcare companies across Africa, including medical equipment and healthcare technologies.
The fund primarily targets North Africa, alongside Sub-Saharan Africa, to promote innovation and sustainability. It also targets deeper trade relations between the European Union and Africa. It is expected that the investment will mobilize approximately USD 150 million in the healthcare sector, particularly in North Africa.
Infrastructure
In another context, H.E. Dr. Rania Al-Mashat signed two grant agreements with the Vice President of the European Investment Bank worth EUR 2.7 million ( EGP 150M). These agreements will provide advisory services for the extension of Cairo Metro Line 1. They will also provide advisory services for the development of water treatment plants in Alexandria and Damietta.
It is noted by Minister Dr Rania that during 2020–2024, the EIB injected more than EUR 1 billion into 20 local and regional investment funds. This benefitted a wide range of Egyptian SMEs across healthcare, financial services, pharmaceuticals, retail, technology, and other sectors.
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