EBRD to inaugurate SME office in Egypt’s Alexandria early 2017

The European Bank for Reconstruction and Development plans to inaugurate a new branch in Egypt’s second biggest city Alexandria by early 2017, EBRD director Philip ter Woort announced Friday.

The new branch will provide consulting and financial services for small and medium-sized businesses in Egypt, Ter Woort said during a conference organised by EBRD in Alexandria on Friday.

EBRD official further said that the liberalisation of the Egyptian pound’s exchange rate was a positive decision that would open up more investment opportunities in the country.