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Tuesday, 3 July 2018

New EIB funding for Egypt’s private, water and wastewater projects in the pipeline

New EIB funding for Egypt’s private sector, water and wastewater projects in the pipeline: The European Investment Bank (EIB) is looking to sign new funding agreements to support Egypt’s water and wastewater projects and private sector by the end of the year, EIB’s North African and Middle East Director Flavia Palanza tells Al Mal. The bank is committed to offering the funding necessary to help the Egyptian government implement policies that will spur economic growth and to help the country reach its economic targets by funneling investments into priority sectors and projects, Palanza tells the newspaper. She did not disclose details on the expected size of upcoming investments for Egypt, but said that the bank has recently approved a EUR 1.8 bn investment package for Egypt, Lebanon, Palestine, Tunisia, and Morocco. EIB has provided Egypt with some EUR 8.7 bn of funding since the beginning of their cooperation, including EUR 982 mn directed towards supporting the country’s private sector since 2016 and EUR 420 mn to support entrepreneurship.

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