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Sunday, 20 January 2019

Egypt is the single largest recipient of EBRD investment in 2018

INVESTMENT WATCH- Egypt was the single largest recipient of EBRD investment in 2018: With EUR 1.15 bn invested in 19 projects nationwide, Egypt was the single largest recipient of investment from the European Bank for Reconstruction and Development (EBRD) in 2018, according to an EBRD statement out on Thursday. The EBRD doled out a EUR 205 mn loan to the Cairo metro, a EUR 148 mn loan to reduce pollution in the Kitchener Drain area of the Nile Delta, and a USD 7 mn loan to Obour Land to support its expansion, the bank noted. “Continuing to support the financial sector, EBRD extended its trade finance lines to Banque Misr and to Arab African International Bank.” Overall, the bank’s investment in 2018 totaled EUR 9.5 bn in 395 projects.

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