Cairo-Mubasher: Egypt and the European Investment Bank (EIB) will sign agreements worth £575 million in the second half of October 2016, according to the Ministry of International Cooperation.
Both parties will ink a £75 million deal to finance the Cairo's Metro Line 2, in addition to another deal worth £500 million for supporting small and medium enterprises (SMEs).
“EIB Vice-PresidentPhilippe de Fontaine Vive is scheduled to visit Egypt in the second half of October to sign the agreements,” according to the bank’s Heinz OLBERS, Director of the Neighbouring Countries Department; Directorate for Operations.
The bank’s current portfolio in Egypt amounts to £1.7 billion pumped in power generation, transportation, water and sanitation projects.
