European Investment Bank VP visits Egypt to boost green finance

Gisela Pistamante, Vice President of the European Investment Bank (EIB), is conducting a visit to Egypt to strengthen long-term partnerships focused on green investments, private sector growth, and sustainable finance.

During meetings with Central Bank of Egypt Governor Hassan Abdalla, discussions centered on the stability of the Egyptian banking sector, noting high capital adequacy and liquidity ratios. The two parties are working to activate the Greening Financial Systems Program (GFS) to support sustainable finance and are preparing to sign a cooperation agreement for technical capacity building.

Key initiatives announced during the visit include support for renewable energy projects, specifically solar energy combined with battery storage. The EIB also aims to provide long-term financing for Egyptian companies, enhance access to credit for small and medium-sized enterprises, and support climate risk management within the Egyptian financial sector. Additional focus areas include circular economy projects and expanding financial services for women, youth, and rural areas.