The Egyptian National Industry Development Initiative (EIDI) announced the launch of the “Nile Industrial Investment Fund,” the nation’s first specialized industrial investment fund.
The objectives of the fund are to reduce the import bill and increase exports.
The fund will be listed on the Egyptian Stock Exchange with a value of LE2.5 billion as an initial issue of five to seven years.
The EIDI will manage the fund in partnership with Cairo Capital for Financial Investments.
Since its launch in October 2022, the EIDI has studied 84 industrial investment opportunities.
It has successfully implemented 23 existing projects in the first phase with an investment cost of approximately LE62.5 billion ($1.3 billion), representing 28 percent of the total industrial investments in the last three years.
Work is underway to complete the technical and financial studies for 24 projects in its second phase, in addition to studying 37 future opportunities in various sectors.
The EIDI’s efforts complement the Egyptian state’s extensive structural and legislative reform plan implemented over the past ten years.
The fund focuses on infrastructure projects, port development, and other competitive advantages to achieve accelerated and sustainable growth rates to reach Egypt’s Vision 2030.
