The European Bank for Reconstruction and Development (EBRD) is providing a $25 million loan to finance the working capital of United Metals Company (UMC), an Egyptian manufacturer of copper rods. We are pleased to provide this important financing for the development of United Metals Company,” said Phil Bennett, EBRD First Vice President. It is owned by 65 countries from five continents, the European Union and the European Investment Bank; each shareholder represented on the Bank’s Board of Governors. UMC is one of the leading high quality copper rod producers in Egypt and North Africa. Copper rod manufacturing is a vital industry for the Egyptian and the regional market with export markets including Algeria, Ethiopia and Lebanon.

Source: The North Africa Journal May 14, 2017 07:30 UTC