France, Egypt, Malta set up EMENA Sovereign Wealth Funds Foundation

Malta Government Investments (MGI), the Sovereign Fund of Egypt (SFE), and French public investment bank Bpifrance have signed to found the European, Middle East, and North Africa (EMENA) Sovereign Wealth Funds Foundation in Malta, the three said in a statement.
The foundation, according to the statement, aims to serve as a regional platform for members to meet and exchange experiences and available information on investment opportunities to achieve national and sustainable economic development goals in Europe, the Middle East and North Africa.
The organization which also serves as collaboration network, will aims to crowd in sovereign fund backed capital that will help unlock significant private investment flows to de-risk and fund projects or companies in the EMENA area that has an investment funding gap of $700-900 billion, with a special focus on green technology, sustainable development, SMEs and innovation.
The signing took place on March 24 in the presence of the Permanent Secretary of the Ministry for Economy and Industry (Malta), the Ambassadors for Egypt, France, Spain, and the Chairman of MGI. CEOs, Managing Directors and high level delegations from Ithmar Capital (Morocco), Kuwait Investment Authority, Cassa Depositi e Prestiti (Italy), Standard Chartered and Boston Consulting Group (BCG).
EMENA Sovereign Wealth Funds Foundation in Malta also signed a memorandum of understanding with Compañía Española de Financiación del Desarrollo (COFIDES).

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