EIB backs €271m financing scheme in Egypt
Investors - JULY 1, 2024

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EIB backs €271m financing scheme in Egypt

by Kali Persall

The European Investment Bank (EIB Global) has announced support for a €271 million ($290 million) financing scheme to enable industrial companies across Egypt to cut pollution, improve energy efficiency, increase renewable-energy use, scale up circular economy business practices and strengthen environmental standards.

The new €135 million ($145 million) EIB Global financing, alongside a €30 million ($32 million) grant from the European Union, to be managed by EIB Global, and financing from French Development Agency (AFD), is expected to unlock nearly €271 million ($290 million) in climate-focused business investment, contributing significantly to Egypt's transition to a low-carbon and more climate- and environment-friendly economy.

In recent years, EIB Global has supported a range of industrial investment across Egypt to reduce pollution and has backed business, water, renewable energy and sustainable transport across the region. This financing represents the l

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