Minister of Planning, Economic Development and International Cooperation witnesses the signing of two agreements between the European Investment Bank (EIB) and the International Finance Corporation (IFC) to inject USD 127.5 million into the “RMBV North Africa” and “Alta Semper” investment funds

During the Vice President of the Bank’s first visit to Egypt and the Middle East in 2026

 

Minister of Planning, Economic Development and International Cooperation witnesses the signing of two agreements between the European Investment Bank (EIB) and the International Finance Corporation (IFC) to inject USD 127.5 million into the “RMBV North Africa” and “Alta Semper” investment funds

 

Two grant agreements worth EUR 2.7 million signed with the European Investment Bank to provide advisory services for the extension of Cairo Metro Line 1 and the development of water treatment plants in Alexandria and Damietta

New investments support private sector growth in Egypt and North Africa across healthcare, education, and entrepreneurship, strengthen value chains, and enhance economic integration with the European Union

H.E. Dr. Rania Al-Mashat: Our partnership with the European Investment Bank is strategic, reflecting confidence in the Egyptian economy and reaffirming the State’s commitment to expanding the role of the private sector

The European Investment Bank invested over EUR 1 billion in 20 local and foreign investment funds during 2020–2024

EIB Vice President: Egypt is a strategic partner of the European Union, and we are working to further strengthen the role of the private sector

Mr. Basel Rahmy: Through cooperation with the Alta Semper Fund, we seek to build a strong and sustainable partnership to support and develop the private equity and venture capital ecosystem

 

H.E. Dr. Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation, witnessed the signing of two agreements to enhance private sector investment during the visit of Ms. Gelsomina Vigliotti, Vice President of the European Investment Bank (EIB), to Egypt. The signing ceremony was attended by Mr. Cheikh Omar Sylla, IFC Regional Director, Mr. Basel Rahmy, CEO of the Micro, Small and Medium Enterprise Development Agency (MSMEDA), and representatives of the private sector.

 

The Minister witnessed the signing of an agreement between the European Investment Bank, through its development arm EIB Global, and RMBV III North Africa Fund, under which the EIB will invest USD 80 million in the third RMBV North Africa fund. The investment aims to accelerate private sector development and enhance sustainability in Egypt, and is expected to mobilize more than USD 300 million in investments into private sector companies under a regional investment strategy covering North Africa. The fund provides financing and value-added support to local companies in high-impact sectors, opening new growth opportunities in Egypt, supporting regional growth, and strengthening economic integration between Egypt and Europe.

 

In a related context, the Minister also witnessed the signing of an agreement between the European Investment Bank (EIB), the International Finance Corporation (IFC), the Micro, Small and Medium Enterprise Development Agency (MSMEDA), and Alta Semper II Fund. Under the agreement, the EIB will invest USD 37.5 million, while IFC will invest USD 20 million in the second Alta Semper fund, aimed at supporting the growth of pharmaceutical and healthcare companies across Africa, including medical equipment and healthcare technologies. The fund primarily targets North Africa, alongside Sub-Saharan Africa, to promote innovation, sustainability, and deeper trade relations between the European Union and Africa. This investment is expected to mobilize approximately USD 150 million in the healthcare sector, particularly in North Africa.

 

In her remarks, H.E. Dr. Rania Al-Mashat stated that today marks an important milestone in the strategic partnership between the Arab Republic of Egypt and the European Investment Bank, reflecting strong confidence in the Egyptian economy and reaffirming the State’s direction toward maximizing the role of the private sector as a key development partner. She noted that Egypt has become not only a hub for domestic private sector financing, but also a platform for cross-border financing whose impact extends beyond Egypt to the wider region.

 

She explained that under Egypt’s Narrative for Comprehensive Development: Reforms for Growth, Jobs & Resilience, international cooperation and strategic partnerships represent a core pillar in supporting development efforts, empowering the private sector, bridging financing gaps, and contributing to the shaping of international policies for Global Public Goods, particularly in green transformation, sustainable energy, and healthcare.

 

The Minister emphasized that Egypt represents a central platform for international cooperation with development partners through the design and implementation of projects that deliver direct benefits to citizens, while mobilizing financing and technical assistance for both the public sector and domestic and foreign private sectors. She noted that during the period 2020–2024, the European Investment Bank injected more than EUR 1 billion into 20 local and regional investment funds, benefiting a wide range of Egyptian small and medium-sized enterprises across healthcare, financial services, pharmaceuticals, retail, technology, and other sectors.

 

For her part, Ms. Gelsomina Vigliotti, Vice President of the European Investment Bank, stated:

“Given Egypt’s strategic importance in areas such as energy cooperation, migration, and shared economic interests, it is a key partner for the European Union and a central pillar of EIB Global’s strategy. In this context, private equity funds play a pivotal role in supporting the private sector and strengthening a ‘mutual benefit’ approach between the EU and its Egyptian private sector partners.”

 

Mr. Basel Rahmy, CEO of MSMEDA, confirmed that the signing of the Letter of Intent between the Agency and Alta Semper Growth Fund II L.P. aligns with Egypt’s vision to support entrepreneurs and promote venture capital financing, which provides thousands of young Egyptians with opportunities to fund innovative projects and transform ideas into viable businesses that create jobs and meet market needs.

 

He added that MSMEDA aims, through cooperation with the fund, to build a strong and sustainable partnership to support and develop the private equity and venture capital ecosystem, stimulate economic growth, and enhance Egypt’s regional role. He commended the fund’s role in promoting catalytic investments in Egypt and the region, noting that MSMEDA will cooperate with the European Investment Bank (EIB) and the International Finance Corporation (IFC) during the first quarter of this year to support Alta Semper Growth Fund, which focuses on healthcare and consumer products in Egypt, as part of its continued commitment to empowering Egypt’s entrepreneurial ecosystem through the Fund of Funds program.

 

In the same context, Mr. Ahmed Badr El-Din, Managing Partner at RMBV, stated:

“We are pleased to welcome the European Investment Bank as a cornerstone investor in the fund. This support is a strong endorsement of our strategy and track record, and reinforces our shared commitment to backing high-quality companies that drive sustainable growth, job creation, and economic resilience across our target markets. Through our investment portfolio, we aim to strengthen local value chains and deepen commercial and industrial partnerships with European suppliers, technology providers, and service companies.”

 

Ms. Afshan Jetha, CEO of Alta Semper Capital, commented:

“We are delighted to partner with the European Investment Bank, marking a significant milestone in our long-term vision to build a resilient, equitable, and sustainable healthcare ecosystem in our target markets. This commitment will strengthen our ability to deploy capital, accelerate portfolio company growth, and deepen our on-the-ground impact.”

 

In another context, H.E. Dr. Rania Al-Mashat signed, together with the Vice President of the European Investment Bank, two grant agreements worth EUR 2.7 million (approximately EGP 150 million) to provide advisory services for the extension of Cairo Metro Line 1, as well as advisory services for the development of water treatment plants in Alexandria and Damietta.

 

It is worth noting that the Arab Republic of Egypt is the largest country of operations for the European Investment Bank outside the European Union. Since the start of the Bank’s activities in Egypt in 1979, the cooperation portfolio has reached nearly EUR 14 billion, financing 127 projects across both the public and private sectors.