The EIB has worked with Egypt since 1979. We have supported its transition to a modern economy by financing key water, sanitation and transport infrastructure and by enhancing access to finance for SMEs. Good examples are the Fayoum wastewater expansion project, and the Kitchener drain in Nile Delta that improved sanitation services for over one million people. We also contribute to reducing traffic and CO2 emissions in the capital by financing the Cairo Metro, serving over 2 million passengers per day.
Under the EIB Risk Capital Facility (RCF), part of the EU Initiative for Financial Inclusion, we have invested in Egypt Mid-Cap, a private equity fund investing in local SMEs that will create over 1000 jobs.
More resources to boost entrepreneurship and foster social inclusion are mobilised through our intermediaries. One example is Banque Misr, which through our EUR 500m loan has supported 500 SMEs and Midcaps in manufacturing, creating almost 5000 new jobs so far.