European Bank for Reconstruction and Development

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

EBRD to possibly acquire minority stakes in 2 state-owned banks

Wed, 29 Nov 2023 - 12:23 GMT

Harmgart said that discussions are currently underway with The Sovereign Fund of Egypt (TFSE) to discuss the possibility of purchasing a minority stake in the United Bank and the Banque du Caire

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.

$6M loan granted to support young Egyptian entrepreneurs under EBRD’s YiB program

Wed, 23 Aug 2023 - 03:36 GMT

EBRD’s Youth in Business Program (YiB) is dedicated to supporting privately owned microenterprises or young entrepreneurs under the age of 35.

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 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

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's financing can exceed €1 billion this year in light of COP27: Harmgart

Mon, 22 Aug 2022 - 11:25 GMT

The European Bank for Reconstruction and Development's (EBRD) financing in Egypt may exceed 1 billion euros this year in light of Egypt's hosting of the climate change conference (COP27) in November, said Managing Director for the EBRD’s Southern and Eastern Mediterranean (SEMED) region Heike Harmgart.

EBRD consortium acquires non-banking financial services company in Egypt

Wed, 11 May 2022 - 04:54 GMT

GlobalCorp for Financial Services is specialized in non-banking financial services in Egypt.

EBRD, Egypt sign MoU for low-carbon hydrogen strategy

Mon, 07 Mar 2022 - 04:15 GMT

The EBRD clarified in a statement that it is helping Egypt to achieve its renewable energy potential and to transition to a greener economy through this strategy.

EBRD expects Egypt's growth to reach 4.9% in 2021/22

Thu, 04 Nov 2021 - 02:46 GMT

The bank stated that growth in Egypt slowed from 3.6 percent to 3.3 percent in the fiscal year ending June 2021.

EBRD's current visit to Egypt supports economy, private sector: Pilloux

Mon, 18 Oct 2021 - 01:37 GMT

EBRD’s Vice President of Banking, Alain Pilloux, is visiting Egypt from 17 to 20 October for high-level meetings with government officials to discuss the upcoming country strategy, meet the business community and sign projects.

Spotlight on EBRD's support to Egypt's solar energy sector

Mon, 04 Oct 2021 - 02:23 GMT

Regarding Egypt, The EBRD described Benban solar project as one of its flagship projects, describing it as the largest solar park in Africa and one of the largest in the world.

In photos: EBRD president tours National Museum for Egyptian Civilization, hall of royal mummies

Sat, 24 Apr 2021 - 12:58 GMT

As many as 22 royal mummies were transferred to the museum this month in a glitzy three-mile parade that has captured international attention.

EBRD president: Economic reforms behind Egypt’s success to achieve positive growth rate amid pandemic

Fri, 23 Apr 2021 - 12:29 GMT

Renaud-Basso also hailed the importance Egypt has attached to green economy and renewable energy, an Egyptian Cabinet statement read on Thursday

Green economy, private sector major themes of EBRD's President visit to Egypt

Wed, 21 Apr 2021 - 03:06 GMT

Basso tweeted that One of her first actual, as opposed to virtual, visits to an EBRD country as President is to Egypt

Infograph: ongoing cooperation portfolio bet. Egypt, EBRD amounts to €4.4B financing 106 projects

Wed, 21 Apr 2021 - 02:27 GMT

In the private sector, €2.5 billion is dedicated to 93 projects making up for 58 percent of the portfolio. In the public sector, €1.9 billion is dedicated to 14 projects making up for 42 percent of the portfolio.

President of EBRD visits Cairo on 1st Visit to region since her election last October

Tue, 20 Apr 2021 - 02:38 GMT

“The upcoming visit reflects the close relations Egypt has with the European Bank for Reconstruction and Development and opens new horizons of cooperation," Egypt's Minister Al-Mashat commented.

Egypt, EBRD discuss cooperation, ways to enhance private sector participation in development

Thu, 18 Mar 2021 - 01:24 GMT

They also discussed in a meeting the preparations for the first visit of the EBRD’s President to Egypt, Odile Renaud-Basso.