The EMENA Foundation held its annual meeting in Paris at the invitation of Bpifrance on Wednesday 10th of May and Thursday, 11th of May. This meeting gathered members from the EMENA Foundation, Endorser, and observers. On this occasion, the EMENA Foundation was pleased to welcome Kuwait Investment Authority, the sovereign fund of Kuwait, as Endorser of the Foundation.
On the 10th of May, the EMENA Foundation held its board meeting, during which Jesmond Gatt has been appointed as new administrator of the Foundation on behalf of MGI and has elected Ayman Soliman as Chairman of the Foundation to succeed to Pascal Lagarde, Executive Director of Bpifrance within the framework of a rotative chairmanship. The Board meeting was followed by its general assembly and other committees’ meetings.
On the 11th of May, the EMENA Foundation held a more open session with EMENA members and observers, amongst them, Ithmar Capital (Morocco), CDP (Italy), la Caisse des Dépôts (France), the European Investment Bank (EU), the OPSWF, the IFSWF, the Union for Mediterranean. The meeting introduced by Pascal Lagarde, Executive Director of Bpifrance, Chairman of the Board of Administrators of the EMENA Foundation and by Ghanem Suleiman Al-Ghenaiman, the Managing Director of KIA was dedicated to discussion around investment in the Mediterranean area. Two panels gathered investors (Averroes Africa -Bpifrance, Tilt Capital, Amethis, Stoa and Meridiam) and corporates (Egis, Magriser, Ragni, Raxio). They focused on projects, strategies, and the development of investment capacities to answer the challenges of climate change regarding SMEs and the development of innovation and infrastructures, focusing on the development of smart cities. Panels were moderated respectively by Jose Luis Curbelo, Chairman of COFIDES ( Spain) and Abdala Elebiary, CIO of the SFE (Egypt)

“EMENA should serve as a catalyst to foster investments in the Mediterranean area, putting together institutional public investors, asset managers, and corporates active in the region. I am glad that the Paris meeting has increased the visibility of the EMENA and the network amongst members funds and corporates within the EMENA region” said Pascal Lagarde, Chairman of the EMENA Foundation and Executive Director at Bpifrance. Adding: “it is great news for the EMENA to welcome KIA, the sovereign wealth fund of Kuwait”.

About the EMENA: The foundation 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 collaboration network 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 with an investment funding gap of USD700-900 billion, with a particular focus on green technology, sustainable development, SMEs, and innovation. Members of the EMENA are MGI (Malta), Bpifrance (France), SFE (Egypt), KIA (Koweit), as Sponsor, COFIDES (Spain), and Growthfund, the National Fund of Greece(Greece) are in the process of becoming members.

Press contact 

Bpifrance: Sophie Santandrea / sophie.santandrea@bpifrance.fr / +33 (0)145655162

COFIDES: Laura Manzano / laura.manzano@cofides.es / +34 915626008

MGI: Jessica Falzon / jessica.a.falzon@mgis.com.mt / +356 21497970

SFE: Noha Khalil / nkhalil@sovfundegypt.com / +202 273750456