The Central Bank of Egypt (CBE) received bids from European banks to pump investments into the Egyptian market, CBE governor Tarek Amer said Sunday.

This move proves the European banks’ confidence in the Egyptian economy, which is on the right track, Amer said on the sidelines of the launching of the Nilepreneurs initiative to support entrepreneurs and small and medium-sized enterprises.

Amer told MENA in December that CBE plans to issue permits for foreign banks wishing to open branches in Egypt