EBRD allocates at least €1 billion for Egypt in 2021

The European Bank for Reconstruction and Development (EBRD) has earmarked a combined €1 billion ($1.2 billion) in financing and investment for Egypt this year, its Deputy Regional Director Khaled Hamza told the local press on Sunday.

Hamza did not disclose which projects may receive funding through the rest of the year.

EBRD is expected to direct more Egyptian pound-denominated financing to the private sector and is also seeking to invest in the pharmaceutical and technology sectors, Hamza added.

The bank is also interested in funding transport, water desalination, and irrigation projects, and has been particularly intrigued by the government’s bid to partner with private sector players on building dry ports, the official said.