Mohamed Maait, Egyptian Minister of Finance, during his meeting with Lionel Rabel, President of the European Investment Bank
CAIRO – April 3, 2022: Egyptian Finance Minister Mohamed Maait has affirmed the government’s desire to deepen the 20-year-old cooperation between Egypt and the European Investment Bank (EIB), to expand it to the areas of human development, which the State gives high priority to; “Health and Education”.
Maait also spoke about strengthening private sector participation in economic activity; as it is the engine of job-rich growth, especially in light of the increase in population which requires a sustained increase in economic growth rates to achieve the desired development, and to contribute to the improvement of the level life of citizens and the modernization of the services provided to them.
The Minister stressed that the National Comprehensive Health Insurance Project fulfills the dream of all Egyptians by providing comprehensive and integrated health care to all family members in a way that helps strengthen social protection efforts for them and reduces the severity of the negative effects. of global crises.
This happened during Maait’s meeting with the European Investment Bank delegation led by Leonel Rabel.
The Minister reviewed the efforts to create infrastructure to provide an attractive environment for local and foreign investment, in addition to opening new horizons for the expansion of partnership projects with the private sector, particularly in the sectors priorities during the coming period, in particular: water, information technologies, transport and communications, underlining the government’s desire to take into account the environmental dimension in projects; in line with efforts to transition to a green economy in light of Egypt’s hosting of the upcoming COP 27 climate summit.
Maait expressed the Egyptian side’s aspiration to the European Investment Bank’s efforts in green financing in developing countries, in a way that helps them achieve development goals by implementing environmentally friendly projects. of the environment.
The delegation of the European Investment Bank affirmed that Egypt is a major partner for the bank, that the cooperation portfolio between the two parties amounts to 7 billion euros and that it is interested in concluding partnerships to develop areas of work for the private sector, in line with Egyptian priorities, in addition to continuing to fund infrastructure projects and support areas of human development.
The delegation of the European Investment Bank expressed its readiness to cooperate with the Egyptian side during the activities of the COP 27 climate summit, to discuss ways to reduce the cost of green finance in developing countries.