Cairo to host European Investment Meeting

The European Investment Bank decided to hold its board of directors for the first time outside Luxembourg, the headquarter state.

Cairo was chosen for this purpose. Yesterday, Minister of Planning and International cooperation, Ahmad Darsh said that Egypt was chosen for the first time to house this board owing to its important international rank. In addition, Egypt benefits a lot from the bank loans.

Recently, discussions are underway between Egypt and the Bank to take part in financing Max and al-Dekhela project for sanitary drainage.

It's worthmentioning that the relations between Egypt and the Bank started in 1977. The Bank participated in financing several development projects in the infrastructure fields.

The Bank offers long-term loans to Egypt with easy terms in payment. When contracting loans, interest rate changes according to the international interest rate.