European Investment Bank Launches Cairo Hub to Boost Cooperation in MENA Region

European Investment Bank Launches Cairo Hub to Boost Cooperation in MENA Region

(IN BRIEF) The European Investment Bank (EIB) has officially opened its new regional hub in Cairo, Egypt, aimed at enhancing collaboration and partnerships with public and private entities across the Middle East and North Africa (MENA) region. The hub was inaugurated during a ceremony attended by Egyptian and international political, business, and banking leaders. Egypt’s Minister of International Cooperation, Rania Al Mashat, welcomed the strengthened partnership with EIB, highlighting its role in climate action, business, energy, water, and transport investment over the past four decades. The new hub will deepen the EIB’s cooperation with Egypt and other countries in the MENA region, promoting investments and economic opportunities. Guido Clary has been appointed as the Head of the EIB Regional Hub, overseeing a team of experts in Cairo and collaborating with EIB offices across the region.

(PRESS RELEASE) LUXEMBOURG, 21-Nov-2023— /EuropaWire/ — The European Investment Bank (EIB) formally opened its new regional hub in Cairo, Egypt, to strengthen engagement and cooperation with private and public partners across the Middle East and North Africa.

The EIB Global regional hub was announced by Mostafa Madbouly Prime Minister of the Arab Republic of Egypt, Rania Al Mashat Egyptian Minister of International Cooperation and Gelsomina Vigliotti, European Investment Bank Vice President and formally inaugurated at a ceremony attended by 150 Egyptian, regional and international political, business and banking leaders.

“The European Investment Bank is Egypt’s leading international financial partners, and has provided financial and technical support for climate action, business, energy, water and transport investment that has improved opportunities and services across Egypt over more than 40 years.  Egypt welcomes the EIB’s decision to locate the regional hub here in Cairo and I welcome Guido Clary as new Head of the Regional Hub. The strengthened Cairo presence will deepen our partnership with the EIB and unlock new opportunities in the years to come.” said H.E. Rania Al Mashat, Minister of International Cooperation of the Arab Republic of Egypt.

“Strengthening the local presence of EIB Global is crucial to better address investment challenges and increase the impact of engagement with public and private investment partners. The new Regional Hub will further deepen European Investment Bank cooperation with Egypt and countries from Lebanon to Morocco.” said Gelsomina Vigliotti, Vice President of the European Investment Bank.

“The European Union welcomes the decision to strengthen the engagement of the EIB, the EU Bank, through the new regional hub. The EIB has unique financial, technical, environmental and social expertise and will support new investment in Egypt and further afield that improves lives and enhances economic opportunities.” said Ambassador Christian Berger, Head of the European Union Delegation to Egypt.

Building on decades of engagement and presence in Egypt

The European Investment Bank is the world’s largest international public bank and owned directly by th 27 European Union member states. The EIB has provided more than EUR 15 billion for transformational public and private investment across Egypt since 1979.

In recent years the EIB has backed business, water, renewable energy and sustainable transport across Egypt.

The new regional hub builds on the permanent presence of the EIB in Cairo since 2002. The EIB Regional Hub is located alongside the European Union Delegation in Cairo.

Guido Clary to head EIB Regional Hub

Guido Clary has been appointed Head of the EIB Regional Hub, managing a team of financial and technical experts in Cairo and working with colleagues in 6 offices across the region, as well as the EIB’s Luxembourg headquarters.

Background information

The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals.

EIB Global is the EIB Group’s specialised arm dedicated to increasing the impact of international partnerships and development finance.  EIB Global is designed to foster strong, focused partnership within Team Europe, alongside fellow development finance institutions, and civil society. EIB Global brings the Group closer to local people, companies and institutions through our offices across the world.

Media Contact:

Press Office

press@eib.org
+352 4379 – 21000

SOURCE: European Investment Bank