European Investment Bank to finance infrastructure projects

The Egyptian Prime Minister Atef Ebeid received at his office on Wednesday Francis Mayer, the Vice-President of the European Investment Bank (EIB), and his accompanying delegation.

The two sides discussed a plan to expand the volume of cooperation between Egypt and the Bank in the coming period.

In statements to reporters after the meeting, Mayer said that Dr. Ebeid proposed that the EIB finance part of infrastructure projects in Egypt, especially drinking water stations, health units in rural areas, energy and education projects and waste treatment units as part of preserving the environment.

"The EIB Board meeting will be held in Cairo in the first half of April, with 100 world economists attending," Mayer said.

Darsh Minister of planning and International Cooperation saw that selecting Cairo for the coming Bank's meeting reflected Egypt's economic leverage in the region and the EIB's confidence in the Egyptian economy.

Darsh said that discussions also included the Bank's contribution to funding a project for extending an Egyptian natural gas pipeline to Jordan in preparation for stretching it further on to Turkey.

"The EIB Vice-President displayed the Bank's readiness to pitch in with funding the project," added Darsh.