The European Bank for Reconstruction and Development (EBRD) is committed to increasing its investments in Egypt, pumping about EUR 5.3 bn (EGP 95 bn) through the development of 99 domestic projects, Invest-Gate reports.

The private sector accounts for 58% of EBRD’s investments in Egypt, whereas the country receives more than 50% of the bank’s total investments in Africa, according to a ministerial statement on December 1.

This came during Minister of Investment and International Cooperation Sahar Nasr’s meeting with EBRD’s CRO and Vice President for Risk and Compliance Betsy Nelson, who lauded the triumphant partnership between both sides.

This was crowned by selecting Egypt as the largest country of the bank’s operations in the world, thanks to the remarkable economic success, Nelson further stated.

Meanwhile, Nasr voiced Egypt’s keenness to consolidate collaboration with the bank in several fields, including transportation, namely for railways and subways, in addition to fostering small- and medium-sized projects and boosting joint cooperation in renewable energy developments, the statement noted.