CAIRO, - 20 February 2022: The Ministry of International Cooperation said the development financing offered by the European Bank for Reconstruction and Development (EBRD) to the public and private sectors in Egypt from 2017-2022 hit 4.9 billion euros.
This falls within the framework of joint efforts to support transition to green economy and sustainable growth, it added in a statement.
This coincides with the EBRD's announcement of the 2022-2027 regional strategy which focuses on four axes; supporting competitiveness of the private sector, improving quality and sustainability of infrastructure and public utilities via the private sector, promoting transition to the green economy and enhancing governance and competitiveness.
The bank coordinated with the Ministry of International Cooperation to promote small companies to reach needed finance via eight credit lines standing at 917 million euros.
The bank helped in boosting the commercial competitiveness of Egyptian companies through securing needed funds, worth a total of 1.4 billion euros, in collaboration with eight partners.
The ministry added that the partnerships with EBRD contributed about 410 million euros for the Benban solar plant which is the largest solar facility in Africa.
The bank has also injected 157 million euros via the National Bank of Egypt and the Qatar National Bank (QNB) to improve energy and resources efficiency within the framework of green financing.