Janet Heckman, managing director for the Southern and Eastern Mediterranean (SEMED) region at the European Bank for Reconstruction and Development (EBRD), said that the bank is currently studying to finance five projects in the second phase of the feed-in tariff projects starting from the second half of this year. Heckman told Daily News Egypt that the bank refused to finance the first phase of the feed-in tariff projects due to the domestic arbitration clause, as they wished it to be outside Egypt. According to Heckman, EBRD is planning to inject investments worth €1bn in Egypt during the current year. She said that the SME financing portfolio at the bank in Egypt recorded $410bn for 5 local banks, of which $150m have been signed last year. She added that the bank is currently studying with a number of Egyptian banks to provide financing lines for SMEs and trade operations.

Source: Daily News Egypt March 22, 2017 13:18 UTC