UNDP chief: We must leverage financial innovation to back mitigation, adaptation efforts
Resident Representative in Egypt of the United Nations Development Program (UNDP) Alessandro Fracassetti said “We ...
Egypt becomes largest state of EBRD operations in 2019 after dlrs 150 m loan deals
Egypt became the largest country of the European Bank for Reconstruction and Development (EBRD) operations in 2019 after inking three loan deals of dlrs 150 million.
The financial package is meant to bankroll small and medium sized enterprises (SMEs) in line with the Sustainable Development Goals (SDGs).
After inking the deals with EBRD Executive Director Janet Hackman, NBE Chairman Hisham Okasha said EBRD will extend about dlrs 100 million to the NBE to support the state development projects in various domains and promote the accomplishment of the Egypt Vision 2030 which underlines the importance of wise management of sustainable energy resources.
For her part, Dalia El Baz, the NBE’s Deputy Board chairperson, said Egypt became the largest country of EBRD operations in 2019 , noting that the financial package will help buttressing youths’ projects in the face of local and international market challenges.
EBRD will also work on honing skills of youths to swiftly boost their projects.
Meanwhile, EBRD’s Hackman hailed this fruitful cooperation with the NBE.
Under the financial package, two programs will be launched for the first time in Egypt with about dlrs 30 million dollars allocated for supporting youths’ projects and dlrs 20 million to skill entrepreneurs in the business domains, especially with regard to managing human resources, Hackman added.
In November 2019, Betsy Nelson, EBRD’s Vice President for Risk and Compliance, said Egypt has the lion’s share of the bank’s investments in Africa with over 50 percent pouring into Egypt.
The bank’s investments in Africa are concentrated in Egypt, Tunisia and Morocco, she said.
EBRD investments in Egypt hit 5.3 billion euros with the private sector devouring about 58 percent of the total investments, the EBRD’s vice president said.
EBRD extends €182.9 m loan to Egypt to boost renewable energy, reduce CO2 emissions
EBRD’s investments in Egypt hit 5.3 bn euros, private sector absorbs 58% – Official
اترك تعليقا