Central Bank of Egypt (CBE) Governor Hassan Abdalla met with European Investment Bank (EIB) Vice President Gelsomina Vigliotti to discuss strengthening bilateral cooperation, expanding future partnerships, and advancing sustainable finance initiatives in Egypt, according to a CBE statement.
The meeting took place during Vigliotti’s current visit to Egypt and addressed recent economic developments, as well as the resilience and financial soundness of the country’s banking sector amid mounting global and regional challenges.
Abdalla underscored the strategic partnership between the CBE and the EIB, the European Union’s financing arm, highlighting positive developments in the Egyptian economy and the performance of banks operating in the local market.
Vigliotti praised the resilience of Egypt’s banking sector, pointing to strong financial soundness indicators, including high capital adequacy and liquidity ratios, alongside low non-performing loan ratios. She also commended the longstanding cooperation between the EIB and Egypt and the CBE’s efforts to support economic growth and strengthen the national economy.
Both sides reaffirmed their commitment to deepening cooperation, with a particular focus on sustainable finance and supporting the CBE’s initiatives to integrate sustainability considerations into the financial sector.
Advancing Sustainable Finance and Technical Cooperation
The discussions included the EIB’s Greening Financial Systems (GFS) Programme, which provides technical assistance to support the CBE’s efforts to advance sustainable finance in Egypt. The central bank reiterated its commitment to activating the programme in the coming period.
Egypt joined the initiative in July 2025, and the two institutions are preparing to sign a cooperation agreement that will include provisions for technical assistance and capacity-building.
Vigliotti’s visit comes as Egypt and the European Union continue to deepen their partnership under the EU-Egypt Strategic and Comprehensive Partnership and the EU’s Global Gateway initiative. Key areas of cooperation include green investment, water security, renewable energy, and private-sector development.
EIB Strengthens Support for Water Projects and Egyptian SMEs
During her visit to Cairo, Vigliotti addressed the ninth annual Cairo Water Week, highlighting the EIB’s contribution of more than €1.2 billion to water projects in Egypt since 1989.
Among these initiatives is the Kitchener Drain Programme, which aims to improve environmental conditions and strengthen water management.
The visit also featured new financing commitments aimed at supporting Egypt’s private sector and accelerating the country’s green transition.
The EIB committed $37.5 million in equity investment to Tanmia Capital Ventures 2, a fund that closed at $130 million and targets high-growth Egyptian small and medium-sized enterprises (SMEs). Its priority sectors include healthcare, financial technology, logistics, and education.
The investment also places emphasis on gender-inclusive financing, with at least 30% of the supported SMEs expected to meet the bank’s gender-equality financing standards.
Clean Energy and Green Transition in Focus
Clean energy cooperation remains another key priority, particularly the development of utility-scale solar projects integrated with battery energy storage systems and initiatives to modernize Egypt’s electricity grid.
Together, these efforts are intended to strengthen climate resilience, accelerate industrial decarbonisation, improve access to growth capital for Egyptian businesses, and support sustainable economic development and long-term job creation.
The expanded cooperation reflects the shared commitment of the CBE and the EIB to mobilizing finance, technical expertise, and private-sector investment to advance Egypt’s sustainable development and green transition.
