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The European Bank for Reconstruction and Development’s (EBRD) financing to Egypt may exceed 1 billion euros this year coinciding with Egypt hosting of the climate change conference (COP27) in November
The European Bank for Reconstruction and Development’s (EBRD) financing to Egypt may exceed 1 billion euros this year coinciding with Egypt hosting of the climate change conference (COP27) in November. This was stated by Managing Director for the EBRD’s Southern and Eastern Mediterranean (SEMED) region Heike Harmgart. Egypt is among the top investment markets for the EBRD.
She further expounded that the EBRD invests 1 billion euros in Egypt annually and added that the bank plans to finance projects aiming at supporting green transition. Greater attention will be given to green investment, she affirmed. The EBRD will also focus on supporting renewable energy as well as eco-friendly transportation.
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Egypt is a founding member of the EBRD. Since the start of its operations there in 2012, the EBRD has invested more than 8.9 billion euros in 146 projects across the country.
