The European Investment Bank’s (EIB) representative in Egypt, Alfredo Abad, confirmed that President El-Sisi’s decision to cancel the state of emergency will positively affect the economy & its attractiveness to investors.
Who is affected🤷 Abad added that international institutions such as the EIB expect a lot from Egypt’s hosting of the 27th Climate Change Conference (COP 27), & are eager to see what Egypt has to offer in combating climate change. The bank is very keen on the environmental impacts of its investments, & aims to have 50% of its funds directed to climate action by 2025.
Why is this important🤔 EIB’s total portfolio in Egypt is close to €7.5 billion, & varies between transport, water, energy & small and medium enterprises (SMEs). It has provided financing of more than €1 billion to support 13 projects in the water & sanitation sectors in Egypt.
