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Egypt: EIB Global announces $150 million financing for the biggest hybrid solar PV project in Africa
The European Investment Bank (EIB), through its development arm EIB Global, today announced $150 million in financing for the Obelisk solar photovoltaic project in Egypt, marking the inauguration of the first phase of the plant in Qena Governorate. The event was attended by Prime Minister of Egypt H.E. Dr. Mostafa Madbouly, EIB Global Director General Andrew McDowell, H.E Deputy Prime Minister for Industrial Development and Minister of Transport and Industry Eng. Kamel El Wazir, Minister of Planning, Economic Development, and International Cooperation of Egypt H.E. Dr. Rania A. Al-Mashat, Minister of Electricity and Renewable Energy of Egypt H.E. Dr. Mahmoud Esmat, Governor of Qena H,E. Dr, Khaled Abdel Halim and, Ambassador of the European Union to Egypt Angelina Eichhorst, and Scatec CEO Terje Pilskog.
Portugal: Guimarães receives advisory support from the EU to accelerate sustainable mobility and climate neutrality
The municipality of Guimarães has signed an advisory agreement with the European Investment Bank (EIB), funded by the European Commission to support the city’s transition towards climate neutrality. The agreement was acknowledged during the official ceremony marking Guimarães’ designation as European Green Capital 2026 and the launch of its year of tenure. Participants in the signing ceremony included Ricardo Araújo Mayor of Guimarães, Joao Fonseca Head of the EIB Group Office in Portugal and Patrick Child, Deputy Director General, DG Environment of the European Commission.
Germany: EIB to lend WEMAG millions for grid infrastructure
Attended by Minister-President Manuela Schwesig, EIB Vice-President Nicola Beer and the WEMAG Board of Directors signed an investment financing agreement for €220 million to expand electricity grid infrastructure.