The European Bank for Reconstruction and Development (EBRD) plans to inject $ 1.4 billion into Egypt by the end of 2018 to finance projects in the local market, according to Janet Heckman, the director general of the Southern Region. and eastern Mediterranean (SEMED).
In the first six months of 2018, the London-based institution has invested about 600 million euros of financing in the country.
In 2017, for 1.5 billion euros, the bank financed around 35 projects, including 32 projects in the private sector.
The EBRD will grant Egypt a € 200m facility, in addition to a € 600m sovereign loan Egypt will obtain from several European institutions to rejuvenate the Cairo metro line.
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EBRD Announces $ 1.4 Billion Funding for Egypt
Janet Heckman, Executive Director of the Southern and Eastern Mediterranean Region (SEMED).
Amadjiguéne Ndoye
Economic journalist with a Master’s degree in Communication and Journalism from the Higher Institute of Information and Communication Sciences in Dakar (ISSIC). Avid reader and music enthusiast. Feminist at heart and passionate about fashion.
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