The European Bank for Reconstruction and Development (EBRD) plans to offer $200 million to finance building a green shopping and entertainment mall in Cairo.
Located in eastern Cairo, the eco-friendly City Centre Almaza is expected to be launched in September.
The 103,000-square-metre shopping mall is designed to include cutting edge green technologies for power efficiency and rationalising water consumption as well as lowering carbon emissions.
The mall is planned to include a training centre to get new vendors qualified for the retail and hospitality sectors, a move expected to create more jobs among the youth.
The EBRD has provided around $5 billion to finance more than 50 projects in Egypt since it started operations in the country in 2012.