Back to the complete issue
Tuesday, 11 December 2018

EBRD to invest EUR 2.5 bn in Egypt over two years

INVESTMENT WATCH- EBRD to invest EUR 2.5 bn in Egypt over two years: The European Bank for Reconstruction and Development (EBRD) is planning to commit up to EUR 2.5 bn-worth of projects in Egypt over the next two years, EBRD President Sir Suma Chakrabarti said on Sunday, according to Masrawy. The institution, which has lent Egypt north of EUR 4.5 bn since first adding Egypt to its footprint, is looking at projects in the new administrative capital and the Suez Canal Economic Zone, Chakrabarti said. He also noted that the bank is eyeing Banque du Caire’s IPO as part of the state privatization program, but has appetite for the banking sector as a whole and is not specifically intent on buying into BdC. The EBRD plans to invest some EUR 1.2 bn in Egypt next year, Managing Director for the Southern and Eastern Mediterranean Janet Heckman had told us last week.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.