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Wednesday, 1 June 2016

EBRD investments to hit EUR 700 mn in coming period – Sir Suma

The European Bank for Reconstruction and Development (EBRD) plans to inject EUR 700 mn into Egypt in the coming period, EBRD president Sir Suma Chakrabarti said during a meeting with President Abdel Fattah El Sisi on Tuesday, according to an Ittihadiya statement. During the meeting, which was also attended by Minister of International Cooperation Sahar Nasr, Sir Suma underscored the EBRD’s commitment to finance more projects to “enhance economic reform efforts.” Currently, the size of the bank’s investment in Egypt amounts to EUR 1.7 bn in 34 projects, he said, making Egypt EBRD’s third largest recipient of investments; the institution expects Egypt to become the second-largest recipient country this year, Ittihadiya notes Sir Suma as having said.

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