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Sunday, 11 October 2020

EIB to commit USD 10 mn to Egypt- and Jordan-focused Badia VC fund

INVESTMENT WATCH- The European Investment Bank (EIB) is planning to commit USD 10 mn in equity to Egypt- and Jordan-focused Badia Impact Fund II, the EIB said in a press release. The venture capital fund, which has a USD 50 mn target size, will invest in “tech-oriented growth-stage” companies and SMEs across the EIB’s “Southern Neighborhood,” which includes Lebanon, Morocco, Palestine, and Tunisia. Emphasis, however, will be on innovative and high-growth startups and SMEs in Egypt and Jordan, the bank said.

Correction (11/10/2020): A previous version of this article incorrectly stated that Badia Impact Fund II invests in Israel.

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