EBRD forecast for Egypt's economic growth in 2024 slips by 0.6% in latest report

Thu, 16 May 2024 - 12:30 GMT

EBRD anticipates the economy to recover in 2025, expecting an uptick to 4.4 percent while forecasting a climb to 4 percent for the coming fiscal year

EBRD invests $95M in Egyptian banks, private sector during 2024

Sun, 03 Mar 2024 - 04:37 GMT

Over 80 percent of these investments were directed towards the private sector, resulting in the implementation of 174 projects across various development sectors

Italy to provide €2 million to EBRD to support Egypt’s startups projects: MOIC

Sun, 25 Feb 2024 - 01:40 GMT

This collaboration was formalized through the signing of a cooperation protocol between the two entities, in the presence of the Ministry of International Cooperation (MOIC)

Egypt’s structural reforms and progress praised by EBRD in transitional report

Mon, 15 Jan 2024 - 03:52 GMT

The EBRD forecasted Egypt’s GDP to rise by 4.8 percent during FY2023/2024, driven by recent reforms to boost private sector growth and easing of external and fiscal vulnerabilities

SCZone, EBRD sign consultancy agreement for Ain Sokhna seawater desalination project

Sun, 19 Nov 2023 - 09:15 GMT

The agreement was signed by Walid Gamal El Din, Chairman of the General Authority for the Suez Canal Economic Zone, and Khaled Hamza, Director of the European Bank for Reconstruction and Development office in Egypt.

Madbouly, EBRD president discuss opportunities to expand co-op in renewable energy

Thu, 26 Oct 2023 - 02:04 GMT

Emphasizing the strong relations between the EBRD and Egypt, Madbouly called on the bank to expand the scope of cooperation on renewable energy projects between the two

EBRD reviews potential €165M loan to upgrade Egypt’s electricity grid

Sun, 15 Oct 2023 - 03:20 GMT

The EBRD has set the approval date for the loan as 13 December 2023

Egypt's economic recovery gains momentum as growth expected to reach 4.8% in 2023-2024 fiscal year

Thu, 28 Sep 2023 - 12:50 GMT

Estimates indicate that natural gas production declined by 9.3 percent year-on-year in the first half of 2023, reaching its lowest level in three years.

EBRD official lauds Egypt capabilities to produce green hydrogen

Thu, 03 Aug 2023 - 06:54 GMT

The Egyptian government plays an important role in the production of green hydrogen in cooperation with the private sector.

Egypt on right track towards green, sustainable energy transition: EBRD’s Hennerkes

Fri, 21 Jul 2023 - 04:07 GMT

Maya Hennerkes, the Director for Green Financial Systems at the Climate Strategy and Delivery Department of the European Bank for Reconstruction and Development (EBRD), said that Egypt is on the right track towards a green and sustainable energy transition.

EBRD provides Banque Misr with $100M loan to support MSMEs

Mon, 17 Jul 2023 - 05:42 GMT

The EBRD elaborated that the provided loan will contribute to the expansion of Banque Misr's activities beyond the Greater Cairo region and help increase the availability of medium-term funding for underserved Egyptian MSMEs.

EBRD is providing Egypt’s private sector with $532 investments

Wed, 12 Jul 2023 - 01:20 GMT

The package is divided to $400 million for the National Bank, $100 million for Banque Misr, and €30 million euros for Mediterrania Capital fund, which accounts for more than $32 million.

Egypt starts to increase local production, adapts more diversification strategies: EBRD official

Wed, 17 May 2023 - 12:17 GMT

Harmgart stated that the pressure of global food prices has led to more diversification strategies.

Video - Egypt has become increasingly competitive as a manufacturing hub: EBRD Managing Director

Tue, 16 May 2023 - 11:14 GMT

Harmgart expressed her eternal optimism with in particular, labor costs slow in and with declining exchange rate in big markets like Egypt.

EBRD expects Egypt’s real GDP growth for FY2022/2023 to reach 4%

Tue, 16 May 2023 - 04:31 GMT

The report noted that increased gas exports, Egypt's role as an energy hub in the eastern Mediterranean, and the implementation of business-environment reforms supported by the International Monetary Fund (IMF) were main factors to the positive outlook

Samcrete, Al Kharafi awarded contracts under EBRD’s Fayoum Wastewater Program

Wed, 03 May 2023 - 01:42 GMT

Egypt’s Samcrete was awarded two contracts valued at €36.6 million to build new sewage networks and pump stations in Fayoum and Al Kharafi will design and build a new wastewater treatment plant with a 35k cbm/d capacity in a €23.9 million contract.

Egypt, IFC, EBRD sign cooperation agreement on desalination projects

Thu, 23 Mar 2023 - 09:56 GMT

Minister of Planning and Economic Development and Chairwoman of The Sovereign Fund of Egypt (TSFE) Hala El-Said attended Wednesday the signing ceremony.

EBRD increases stake in Egypt’s Infinity through $41.5M commitment

Thu, 17 Nov 2022 - 04:33 GMT

The EBRD is a current shareholder in the company, having invested $60 million in 2020.

EBRD supports Egypt’s private-to-private renewables sector by $5.5M

Tue, 08 Nov 2022 - 04:52 GMT

The new funding comprises a $ 4.95 million loan from the EBRD and a $ 550,000 concessional loan from the Global Environment Facility (GEF) to finance the construction and operation of a 7 MWp solar photovoltaic (PV) project in El Minya.

EBRD supports green investments in Egypt's SMEs by $100M

Sun, 11 Sep 2022 - 01:20 GMT

The EBRD elaborated that the loan follows the success of the Green Economy Financing Facility (GEFF) in Egypt, and will support an expansion of green lending in Egypt to under-served regions for investments in climate change mitigation and adaptation technologies and services.