Spanish cooperation agency and EIB to invest up to 100 million Euros to support SMEs in Southern Mediterranean

The Kingdom of Spain through the Agencia Española de Cooperación Internacional para el Desarrollo (AECID) has contributed up to €100 million to the European Investment Bank (EIB) for investment across the Southern Mediterranean region

The EIB will manage the funds on behalf of the AECID and seek to invest these resources before the end of 2013 for risk capital activities to the private sector, particularly for the benefit of small and medium enterprises. The objective is to make investments, directly or through private equity funds, throughout the region, supporting job-generating projects and developing entrepreneurial culture.

Interested parties are invited to submit eligible projects to the EIB through their homepage.

The European Investment Bank is the long-term lending institution of the EU owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals.

Through its facility for partnership with Mediterranean countries (FEMIP), the EIB has undertaken to support its partners’ economic and social development in very tangible terms since 2002 in order to improve the living conditions of their citizens - an undertaking that has constantly been reaffirmed over the years, resulting in an overall investment of more than €13 billion.This has resulted in support for projects in the key sectors of industry, energy, transport and water, to which the EIB added value through its advice and technical and financial expertise, allied to the stepping-up of its bilateral and multilateral cooperation.

Source: ENPI Info Centre

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    German-Arab Chamber of Industry and Commerce
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    British Egyptian Business Association
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    French Chamber of Commerce in Egypt
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    Delegation of the European Union to Egypt
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    Italian Chamber of Commerce in Egypt