EIB is investing US$137.5 million in Egypt, supporting private sector growth and mobilizing regional investment across high-impact sectors, including health. RMBV and the Alta Semper Fund will receive US$80 million and US$57.5 million to accelerate sustainability and innovation. EIB is providing a €2.7 million grant for advisory services on the Cairo Metro Line 1 extension and Alexandria and Damietta water treatment projects.
european investment bank
The European Investment Bank (EIB) and the Egyptian government have signed two agreements worth US$137.5 million to promote private sector investment. This was signed during the visit of EIB Vice-President Ms. Gelsomina Vigliotti to Egypt.
Dr. Rania Al Mashat, Minister of Planning, Economic Development and International Cooperation, witnessed the signing of the two agreements. The ceremony was also attended by Sheikh Omar Shira, IFC Regional Director, Basel Rami, CEO of MSMEDA, and representatives from the private sector.
private sector
Minister Rania witnessed the signing of an agreement between EIB Global, the EIB’s development arm, and the RMBV III North Africa Fund. Under the agreement, the EIB will invest US$80 million in the third RMBV North Africa Fund.
The investment aims to accelerate the development and increase the sustainability of Egypt’s private sector. It is also expected to mobilize more than $300 million for private sector investment under a regional investment strategy focused on North Africa. The fund aims to provide financing and value-added support to local businesses in high-impact sectors. We therefore aim to open up new growth opportunities for Egypt and support the growth of the region. It also aims to strengthen the economic integration between Egypt and Europe.
health care
Minister Rania also witnessed the signing of an agreement between the European Investment Bank (EIB), the International Finance Corporation (IFC), the Small and Medium Enterprises Development Agency (MSMEDA) and the Alta Semper II Fund.
Under the agreement, the EIB will invest US$37.5 million and IFC will invest US$20 million in the second Alta Semper Fund. It aims to support the growth of pharmaceutical and healthcare companies across Africa, including medical devices and healthcare technology.
The fund primarily targets North and Sub-Saharan Africa and promotes innovation and sustainability. It is also targeting deeper trade ties between the European Union and Africa. This investment is expected to mobilize around US$150 million specifically for the healthcare sector in North Africa.
infrastructure
In another context, Her Excellency Rania Al-Mashat signed two grant agreements worth 2.7 million euros (150 million Egyptian pounds) with the Vice-President of the European Investment Bank. These agreements provide advisory services for the Cairo Metro Line 1 extension. We also provide advisory services on the development of water treatment facilities in Alexandria and Damietta.
Minister Rania pointed out that from 2020 to 2024, the EIB has injected more than €1 billion into 20 local and regional investment funds. This has benefited a wide range of Egyptian small and medium-sized enterprises across healthcare, financial services, pharmaceuticals, retail, technology and other sectors.
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