Cairo – Mubasher: The European Investment Bank (EIB) has agreed to pump further financing into a number of projects in Egypt, the bank’s director of EU Neighboring Countries said.
The Luxembourg-based lender is expected to sign two loans worth a combined EUR 589 million by the end of this year, local newspaper Almal reported, citing Flavia Palanza as saying.
The first EUR 214 million loan will be used in favor of Kitchener drain sanitising project, Palanza highlighted.
Moreover, the bank will raise an EUR 375 million facility to support the Egyptian private sector, mainly the small- and medium-sized enterprises (SMEs), she added.
