EIB plans to sign loan agreements with Egypt worth EUR589mn by year-end
The European Investment Bank’s (EIB) Board of Directors has signed off on extending new loans to Egypt worth a combined EUR589mn, EIB’s North Africa and Middle East Director Flavia Palanza told Al Mal. The loans include a EUR214mn facility for the Kafr El Sheikh Kitchener drainage project and another EUR375mn to support the country’s private sector. Palanza did not disclose further details on the latter. The bank is expecting to sign the agreements with Egypt before the end of 2018, according to Palanza.
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