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.
Trending
- ARC Ltd and Klapton Re join forces to expand climate insurance across Africa
- Ruto bags $823 million in China
- Kenya’s KCB, Equity Bank to sell 30 percent stake in Congo subsidiaries
- Breaking: U.S cancels Kenya tour, after Ruto visit to China
- Ghanaian Minister of Finance appointed Chairman of the Board of Governors of EBID
- The Board of Governors of EBID holds its 23rd Annual General Meeting
- Kenya’s central bank lifts decade-long ban, welcomes new banks
- Four smugglers caught in Kenya with prized ants
EBRD Announces $ 1.4 Billion Funding for Egypt
Janet Heckman, Executive Director of the Southern and Eastern Mediterranean Region (SEMED).
Amadjiguéne Ndoye
journaliste économique, titulaire d’un Master II en Communication et Journalisme de l'Institut Supérieur des Sciences de l’Information et de la Communication de Dakar (ISSIC). Grande amatrice de lecture et de musique. Féministe dans l'âme et passionnée de mode.
Add A Comment
About us
Headed by Adama Wade and his team of 20 journalists, Kapital Afrik offers strategic and financial information to executives and managers. The aim of Kapital Afrik is to provide financial and political news, give priority to human entrepreneurial experiences, lend life to economic policies, give meaning to statistics….
Contact us: redaction@financialafrik.com