CAIRO – Prime Minister Moustafa Madbouli lauded on Sunday strong relations and strategic partnership between Egypt and the European Investment Bank.
Madbouli made the remarks during his meeting with Vice President of the bank Gelsomina Vigliotti on the sidelines of Egypt-EU Investment Conference that kicked off in Cairo on Saturday.
Madbouli praised the bank’s commitment to finance projects of top priorities in Egypt, saying the bank financed projects of both the public and private sectors worth 14 billion euros.
Madbouli said there is an important chance for Egypt to become a source for clean energy given its enormous wind and solar resources and huge potentials to produce green hydrogen and export it to the European countries.
He said total funding provided by the bank to Egypt from 2020 to 2023 reached 2.8 billion dollars and this makes it Egypt’s first trade partner over the past four years.
Vigliotti lauded long-standing co-operation between Egypt and the bank, saying the bank is very interested in the green hydrogen sector and that it held many discussions in this regard with developers of such kind of projects.
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