Yesterday, Dr. Rania Al Mashat, Egypt’s Minister of International Cooperation, visited the headquarters of the European Investment Bank (EIB) and Europe’s Climate Bank for Europe in Luxembourg.
The EIB is one of Egypt’s largest multilateral development partners, and this visit strengthens the ministry’s role in developing joint relations with international and regional institutions to support Egypt’s development.
During her visit, Al Mashat met with the EIB’s President, Nadia Calviño, to discuss enhancing joint cooperation and future plans within the framework of the bilateral cooperation strategy with the bank for the period of 2021-2027.
They further discussed the common priorities of Egypt and the European Union. This is Al Mashat’s first visit since the appointment of the new EIB President earlier this year.
Egypt has a strong cooperation with the EIB, and Al Mashat had previously visited the EIB headquarters in June 2022 and met with the bank’s former president at several international and regional forums. Egypt is the bank’s largest country of operation outside of the EU and the largest international institution financing the Egyptian private sector.
Nadia Calviño, the new President of the EIB, is the ninth president of the bank and the first woman to hold the position.
Prior to the leadership of the bank, she served as the former Deputy Prime Minister of Spain, the former Minister of Economy of Spain, and several other positions in the European Commission.
This visit follows the Minister’s participation in the 10th Egypt-EU Association Council in Belgium, where the Ministry released a detailed report titled “Egypt & Europe: A Shared Development Vision for Progress & Prosperity,” which reviews the distinguished cooperation with the Team Europe initiative from 2020 to 2023.
The report includes a chapter on the EIB, which is one of the key institutions within Team Europe that shapes the nature of Egypt-EU cooperation.
