The European Bank for Reconstruction and Development (EBRD) has pumped EUR 1.9 bn in 43 projects in Egypt thus far, Invest-Gate reports.
The EBRD is also planning to contribute to infrastructure projects in an attempt to develop the Egyptian transportation sector, according to a released statement.
The First Vice-President of EBRD Philip Bennett announces such a plan at a meeting with Minister of Investment and International Cooperation Sahar Nasr in Washington.
“This strategy reflects a strong partnership between Cairo and the international monetary institutions,” says Nasr, adding that Egypt is anticipating EBRD’s annual meetings that will be held in Cyprus next month.
The EBRD will also invest in Egypt’s energy sector and help diversify the country’s energy sources through financing new energy projects, according to Bennett.