Back to the complete issue
Monday, 17 September 2018

Egypt, EIB sign two agreements worth EUR 32 mn

Egypt and the European Investment Bank (EIB) signed two agreements for grants worth EUR 32 mn (EGP 662 mn) to support sewage treatment projects in Kafr el Sheikh, according to an Investment Ministry statement. The agreements will allow EIB to help implement infrastructure projects throughout 79 villages. EIB had previously said that it intends to sign funding agreements with Egypt worth a combined EUR 589 mn before the end of the year, including a EUR 214 mn loan for the Kafr El Sheikh Kitchener drainage project and another EUR 375 mn to support the country’s private sector.

In other diplomacy news:

  • A number of Indian companies signed MoUs with Egyptian partners last week that should see them cooperate on projects in IT, pharma, and renewable energy.
  • A Moroccan trade delegation will be in Egypt next monthto discuss ways to step up Egyptian exports to West Africa through Rabat.
  • Foreign Minister Sameh Shoukry talked power interconnection with his Greek and Cypriot counterparts ahead of a planned summit set to take place soon.
  • Shoukry also met with Eritrean President Isaias Afwerkiin Asmara on Thursday to discuss bilateral relations and cooperation and D-8 Organization for Economic Cooperation Secretary General Dato Ku Jaafar Ku Shaari
  • European Council President Donald Tusk and Austria’s Chancellor Sebastian Kurz held talks with President Abdel Fattah El Sisi yesterday during an official visit to Egypt. Illegal migration was at the top of the agenda.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.