The EBRD’s investments in Egypt amount to about 5.3 billion euros spread across 99 projects in the sectors of transportation, electricity, renewable energy, housing and sanitation. The EBRD’s investment in Egypt represents more than 50 percent of the bank’s investments in Africa. Per the agreement, the bank will provide a loan 350 million euro loan to Egypt. The grant will go to “Tanmia wa Tatweer” (Egypt’s Entrepreneurship Development Project). Tanmia wa Tatweer aims to support entrepreneurs — particularly youth and women — in establishing, managing and operating successful innovation-driven enterprises in agribusiness; clean, green and alternative energy; and creative industries in handicrafts and the performing arts.

Source: Egypt Independent April 16, 2020 11:03 UTC