The European Investment Bank (EIB) today 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 Delegation welcomes the decision of the EIB, the EU Bank, to establish a regional hub in Cairo. The EIB has unique financial, technical, environmental and social expertise and will support new investments in Egypt and in the region improve livelihoods 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.
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.
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