According to bank provided information, this operation provides much-needed long-term risk capital to support private sector growth in the EU Neighbourhood, with a focus on Egypt (70%) and Morocco (30%), in line with the EU's Global Gateway priorities.

The project also aims to strengthen trade links and supply chains between the EU and North Africa, building on the demonstrated success of predecessor funds and in close coordination with Team Europe. The investment will be channelled through a Netherlands-based vehicle, ensuring a robust and strategic approach to promoting sustainable development and further deepening economic ties between North Africa and the EU.

The key project objectives are to support private sector development in North Africa, particularly in Egypt and Morocco, by increasing access to patient risk capital and providing managerial value-add to mid-caps. This is expected to foster the growth and institutionalisation of Egyptian and Moroccan private companies, which are predominantly family-owned within the target segment.
The fund manager will seek to create value through a hands-on approach, driving the growth and profitability of investee companies while enhancing environmental, social and governance (ESG) standards and implementing appropriate digitalisation measures.

The project will be implemented in line with the requirements of applicable national and EU environmental and social legislation as well as the relevant EIB Environmental and Social Standards.

*Contact information not provided at the time of disclosure*

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.eib.org/en/infocentre/registers/request-form/request-form-default.htm

ACCOUNTABILITY MECHANISM OF EIB

The EIB Complaints Mechanism is designed to facilitate and handle complaints against the EIB by individuals, organizations or corporations affected by EIB activities. When exercising the right to lodge a complaint against the EIB, any member of the public has access to a two-tier procedure, one internal - the Complaints Mechanism Office - and one external - the European Ombudsman. A complaint can be lodged via a written communication addressed to the Secretary General of the EIB, via email to the dedicated email address: complaints@eib.org, by completing the online complaint form available at the following address: http://www.eib.org/complaints/form via fax or delivered directly to the EIB Complaints Mechanism Division, any EIB local representation office or any EIB staff. For further details, check: http://www.eib.org/attachments/strategies/complaints_mechanism_policy_en.pdf

When dissatisfied with a complaint to the EIB Complaints Mechanism, citizens can then turn towards the European Ombudsman. A memorandum of Understanding has been signed between the EIB and the European Ombudsman establishes that citizens (even outside of the EU if the Ombudsman finds their complaint justified) can turn towards the Ombudsman on issues related to 'maladministration' by the EIB. Note that before going to the Ombudsman, an attempt must be made to resolve the case by contacting the EIB. In addition, the complaint must be made within two years of the date when the facts on which your complaint is based became known to you. You can write to the Ombudsman in any of the languages of the European Union. Additional details, including filing requirements and complaint forms, are available at: http://www.ombudsman.europa.eu/atyourservice/interactiveguide.faces