The European Bank for Reconstruction and Development (EBRD) is to invest in the Suez Canal Economic Zone (SCZone), Invest-Gate reports.

EBRD Director Phillip Barresi announced the plan in a meeting with SCZone Chairman Ahmed Darwish last Thursday.

“The international finance institutions are interested in carrying out projects in the SCZone,” Darwish says, according to a released statement.

During the meeting, the two officials discussed ways of attracting investments in SCZone, assessed Egypt’s investment climate, and reviewed works implemented during the first 15 months of operation.