CAIRO- Egyptian Minister of International Co-operation Rania el-Mashat underscored the importance of deep-rooted and profound cooperation between the Egyptian government and the European Investment Bank (EIB) in various development fields and future vistas of joint co-operation in producing clean energy and green hydrogen.
Between 2020 and 2021, the Bank offered about 3.35 billion euros as development financing to the public and private sectors, Mashat said during a meeting with EIB Vice for climate activities President Ambroise Fayolle on Monday.
Mashat said the financing includes developmental cooperation deals with the government, worth 1.5 billion euros in several vital sectors covering transport, water and water treatment.
As well, the Bank provided development financing to the private sector, estimated at a value of 1.85 billion euros in the same period, according to her.
Egypt is acting to push forward climate efforts regionally and internationally as Egypt will chair the 27th session of the Conference of the Parties (COP 27) to the UN Framework Climate Change Convention (UNFCCC) in Sharm el-Sheikh in November.
In turn, Fayolle underlined the importance of bilateral cooperation between the Bank and the Egyptian government in adaptation and reduction of climate change repercussions.
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