EBRD TO FUND QNB Alahli, local Dreyfus subsidiary: The European Bank for Reconstruction and Development (EBRD) may provide a USD 100 mn, three-year revolving to Louis Dreyfus Company Group’s subsidiaries in several countries, including Egypt, according to a statement by the development bank. The tranche allocated to the Egyptian subsidiary aims ”to improve global food security by enhancing trade linkages and efficiency between Egypt, the world’s largest grain importer, and some of its major suppliers.” The financing agreement also aims to provide stable working capital financing to the company’s activities in “countries where liquidity can be a constraint.”

EBRD is also considering providing a loan of up to USD 40 mn to QNB Alahli, with the European Investment Bank (EIB) expected to provide USD 20 mn of the loan, the EBRD said in a statement. The move comes as part of the “Egypt Sustainable Energy Financing Facility Framework,” which is a EUR 140 mn financing programme in support of sustainable energy projects. “The agreement with Egypt will provide funds to participating financial institutions for on-lending to eligible private sector sub-borrowers for sustainable energy investments,” the bank said. The agreement will also provide technical assistance and employee training to QNB Alahli.