The European Bank for Reconstruction and Development (EBRD) announces its intention to deploy in sub-Saharan Africa, according to its president Suma Chakrabarti.
Also, he added, the bank announces its willingness to lend 2.5 to 3 billion euros more than its average of 9.5 billion euros in recent years, without the need for more capital.
The bank totals around € 7 billion of investments in the Middle East in North Africa since its beginnings in the area in 2012.
“The bank could possibly invest an extra 500 million euros a year in its 37 countries of existing operations,” he added, adding up to 10 billion euros a year. This would leave a lot of leeway to extend “gradually” to sub-Saharan African countries engaged in market democracy, “said Suma Chakrabarti.
On the continent, the European bank is present in Egypt, Morocco and Tunisia.
