Egypt drives EBRD investment surge in Mediterranean region

Muhammed Khalid , Thursday 25 Jan 2024

Egypt dominated the European Bank for Reconstruction and Development’s (EBRD) investments in the Southern and Eastern Mediterranean last year as the lender committed €1.29 billion to 16 projects.

EBRD logo.


EBRD spent around 69 percent of its loan to Egypt on projects in the financial sector, while 63 percent of the loan focused on gender and inclusion issues, according to figures released by the bank on Thursday. On the other hand, 96 percent of EBRD's loan was used to back private enterprises.

Disbursements in Egypt hit a record €900 million plus in 2023. The totals boosted funding since the EBRD began operations there in 2012 to €5.7 billion. Most recent outlays aimed to boost small business lending and infrastructural development.

As part of Egypt’s water, food and energy cooperation, the EBRD extended a loan of $100 million for a 500-megawatt wind farm. The lender is also advising on shutting coal plants and expanding renewables.

One of EBRD's key private investments was co-financing a Damietta port container terminal. The package includes skills training and providing jobs for women to foster inclusion.

The EBRD also provided 550 small companies with advisory aid through an EU-backed program.

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