Minister of Investment and International Cooperation Sahar Nasr emphasizes Egypt’s keenness to enhance cooperation with the European Investment Bank (EIB) in the upcoming period, announcing a- EUR 381.4 mn- MoU with the bank, Invest-Gate reports.

Nasr, who confirms the bank’s support with EUR 8.2 bn since the start of their partnership, says “the current portfolio of EIB in Egypt is worth USD 1.7 bn.”

Nasr’s comments were on the sidelines of the EIB international conference, held in Cairo and  dedicated to boosting investments in the Mediterranean region, in partnership with the Ministry of International Cooperation and Investment, the European Union Delegation to Egypt and the Union for the Mediterranean (UfM).

The first project with EIB aims to develop the infrastructure of a sanitation project in Kafr El-Sheikh, which was co-financed with several other development partners at a total cost of EUR 163.5 mn.

The second and third projects will be financing a sewage system for villages near Fayyoum governorate’s Lake Qarun, as well as, a sewage system located west of Alexandria.