Project DescriptionProvision of an equity investment of up to USD 60 million in favour of North Africa Fund III, C.V. (the "Fund"). Project ObjectivesThe Fund will seek to make equity and equity-related investments in mid-cap companies primarily in Egypt, Morocco and Tunisia with the objective of achieving long-term capital growth. Client InformationNORTH AFRICA FUND III CVThe Fund will be managed by Riyada Managers B.V. (RMBV). EBRD Finance SummaryUSD 60,000,000.00Total Project CostUSD 300,000,000.00AdditionalityEBRD continues to support fund managers operating in the SEMED region. RMBV will adopt and implement the EBRD's Environmental and Social Risk Management Procedures for Active Equity Funds and will submit Annual Environmental and Social Reports to the Bank.

Source: The North Africa Journal May 10, 2023 10:55 UTC