SCZONE, Tokyo Metropolitan Government sign MoU on green hydrogen cooperation    Egypt's PM meets Tokyo governor, witnesses signing of education agreements    Egypt's Sisi, France's Macron discuss Gaza ceasefire efforts in phone call    Egypt welcomes international efforts for peace in Ukraine    Al-Sisi, Macron reaffirm strategic partnership, coordinate on Gaza crisis    Contact Reports Strong 1H-2025 on Financing, Insurance Gains    Egypt expresses 'deep dissatisfaction' to Netherlands over embassy attack    Egypt, India's BDR Group in talks to establish biologics, cancer drug facility    AUC graduates first cohort of film industry business certificate    At TICAD, Egypt's education minister signs pacts with Casio, SAPIX    Egypt to tighten waste rules, cut rice straw fees to curb pollution    Indian tourist arrivals to Egypt jump 18.8% in H1-2025: ministry data    Egyptian pound down vs. US dollar at Monday's close – CBE    Egypt prepares unified stance ahead of COP30 in Brazil    Egypt recovers collection of ancient artefacts from Netherlands    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Egypt, Namibia explore closer pharmaceutical cooperation    Fitch Ratings: ASEAN Islamic finance set to surpass $1t by 2026-end    Renowned Egyptian novelist Sonallah Ibrahim dies at 88    Egyptian, Ugandan Presidents open business forum to boost trade    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt, Huawei explore healthcare digital transformation cooperation    Egypt's Sisi, Sudan's Idris discuss strategic ties, stability    Egypt to inaugurate Grand Egyptian Museum on 1 November    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



EBRD: investments in Egypt to reach €1.25bn by 2014/15
Published in Daily News Egypt on 31 - 10 - 2012

Tarek El-Sherbini talks to the Daily News Egypt. (FILE PHOTO / DNE)
Senior representative of the European Bank for Reconstruction and Development (EBRD) to Egypt and Jordan, Tarek El-Sherbini, said the bank will open in Egypt. “We expect the bank's investments in Egypt to reach €1.25 billion by 2014/2015," El-Sherbini told Daily News Egypt.
“Yesterday's meeting was quite fruitful," El-Sherbini added, commenting on Tuesday's meeting between EBRD President, Suma Chakrabarti, President Mohamed Morsy and Prime Minister Hisham Qandil.
The meeting highlighted talks of potential strategies for economic reform and boosting European investments in Egypt, Egyptian press reported Wednesday.
Presidential spokesperson, Yasser Ali, stated the EBRD president confirmed the bank's want to orient investments to Egypt.“The president of EBRD expressed willingness to open a branch of the bank in Egypt for supporting specialists in the different domains," said Ali.
Morsy briefed EBRD's Chakrabarti on the government endeavours to establish a democratic system and stability, the Egyptian State Information Service reported yesterday.
El-Sherbini added EBRD's investments in Egypt would focus on food production, financial services, private equity and infrastructure.
“Two-thirds of our investments and financing goes to the private sector, about one third on average goes to the public sector," El-Sherbini told Daily News Egypt
The EBRD, which was founded in 1991 for the purpose of developing the private sector and the market economy in the former Soviet bloc, announced on 18 September the launch of its first investments in emerging Arab democracies in Tunisia, Jordan and Morocco. EBRD's board of directors said that investments in Egypt are expected to be submitted shortly.
EBRD is expected to offer loans to Egypt worth €1.25 billion, according to cabinet spokesman, Ambassador Alaa El-Hadidy.


Clic here to read the story from its source.