EIB Injects $80 Million Into North Africa Fund to Boost Growth in Egypt

The European Investment Bank, through its development arm EIB Global, has announced an $80 million investment in the North Africa Fund, aiming to accelerate private sector growth in Egypt as part of a broader regional strategy covering North African countries.

According to a statement released by the bank, the investment is expected to help mobilize more than $300 million in additional capital, directed toward companies operating in high-impact sectors such as consumer goods and services, healthcare, and education. The initiative is designed to strengthen the role of the private sector as a driver of sustainable economic growth and job creation.

The agreement was signed in the presence of Rania Al-Mashat, Egypt’s Minister of Planning, Economic Development and International Cooperation, Gelsomina Vigliotti, Vice President of the European Investment Bank, and Ahmed Badr El-Din, Managing Partner of RMBV, which manages the fund.

The EIB noted that the fund’s role extends beyond financing, as it also provides managerial and institutional support to local companies. This approach aims to enhance corporate governance, boost long-term sustainability, and improve companies’ ability to scale operations.