The Egyptian government has signed a new agreement with the European Investment Bank (EIB) Group concerning “the use of a grant of 21 million euros [$24.2 million, Ed.] granted by the European Union”. The announcement was made on Sunday June 15, 2025 via an official press release.

Planning Minister Rania Al-Machat attended the signing of an agreement with the European Investment Bank (EIB) for a 21 million euro loan to contribute to the transformation of the Egyptian economy into a green economy.

The Minister of the Environment, Yasmine Fouad, and the Vice President of the European Investment Bank (EIB), Gelsomina Vigliotti, and General MENA of the European Commission, and General MENA of the European Commission, Stefano Sannino, took part.

This agreement represents a significant step forward in our collective efforts to accelerate the green transformation of Egypt through close international cooperation, in particular with the EIB and the European Union (EU), and we are working to mobilize mixed finance to stimulate sustainable industrial practices, promote energy models and circular economy and advance our decarbonization agenda, the minister said during the signing ceremony