EBRD Finances 2 Projects in Egypt worth €266 million

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European Bank for Reconstruction and Development (EBRD) Egypt’s Country Director Philip ter Woort said the bank financed two projects worth €266 million in Egypt within the last period.

In statements to Amwal Al Ghad on Thursday, ter Woort explained that the first project is to establishing Damietta Power Plant with €140 million, the second project aims Restoring and the renewal of vehicles trains between the two lines Cairo and Alexandria with €126 million.

There is another project EBRD is seeking to finance during the upcoming period with the Egyptian government so as to establish water and sanitation units.

Furthermore, the bank’s strategy is focusing on 3 key axes representing bolstering energy projects especially renewable energy along with paying attention on SMEs as well as woman Projects in order to encourage them to take part in economic life.