EBRD approved Egypt as a Country of Operations

Board of Governors of European Bank for Reconstruction and Development (EBRD) has voted to make Egypt a country of operations. Such development makes Egypt a formal recipient of finance and other support provided by EBRD, where all the bank’s investments in Egypt will be financed from ordinary capital resources. As a country of operations, Egypt will be subject to all regular assessments EBRD undertakes in countries where it invests. EBRD current portfolio in Egypt includes 21 projects with investments of more than EUR780 million, providing long-term support for Egyptian economy with a program that focuses on financial, agribusiness, municipal, infrastructure, transport and telecoms sectors, and through dedicated credit lines to small and medium enterprises (SMEs) through local banks.