{"id":50586,"date":"2020-01-19T17:06:47","date_gmt":"2020-01-19T15:06:47","guid":{"rendered":"https:\/\/www.csregypt.com\/?p=50586"},"modified":"2020-01-19T17:06:47","modified_gmt":"2020-01-19T15:06:47","slug":"ebrd-invested-e1-8bn-in-53-projects-in-semed-in-2019","status":"publish","type":"post","link":"https:\/\/csregypt.com\/en\/ebrd-invested-e1-8bn-in-53-projects-in-semed-in-2019\/","title":{"rendered":"EBRD invested \u20ac1.8bn in 53 projects in SEMED in 2019"},"content":{"rendered":"

The European Bank for Reconstruction and Development (EBRD)<\/a> invested about \u20ac1.8 billion in the southern and eastern Mediterranean (SEMED) region\u00a0<\/span><\/a>in 2019.<\/span><\/p>\n

The investments were pumped the investments into 53 projects of which 72 percent were in the private sector, while 40 percent were in the green economy. This builds on \u20ac2 billion of investments in 50 projects in the previous year.<\/span><\/p>\n

For the second year in a row,\u00a0Egypt<\/span><\/a>\u00a0has topped the EBRD\u2019s annual investments with new commitments of \u20ac1.2 billion in 26 projects in 2019 after \u20ac1.1 billion in the previous year.<\/span><\/p>\n

Heike Harmgart, EBRD Managing Director for the SEMED region, said: \u201cWe are very proud to contribute to the development of the economy in this vibrant region creating more job opportunities for its population, better services and a cleaner environment.\u201d<\/span><\/p>\n

Investments in Egypt:<\/h4>\n

Supporting the transition to renewable energy in Egypt, the Bank provided\u00a0\u20ac183 million to the Egyptian Electricity Transmission Company<\/span><\/a>, to facilitate the integration of 1.3 GW of new renewable energy into the Egyptian electricity system by connecting new renewable energy plants.<\/span><\/p>\n

One key investment in Egypt was a $ 150 million financing package to National Bank of Egypt supporting sustainable energy and climate projects by small companies. The package included programs to raise the skillsets of young people and address the challenge of youth unemployment.<\/span><\/p>\n

Developing an inclusive economy, the Bank invested in 11 projects in the SEMED region aimed at providing economic opportunities to young people and women. In Egypt, the Bank engaged with\u00a0City Centre Almaza<\/span><\/a>\u00a0in the first on-site learning facility to provide training and employment to people with disabilities in the private sector.<\/span><\/p>\n

Investments in other countries:<\/h5>\n

In\u00a0Jordan<\/span><\/a>, the Bank invested \u20ac87 million in nine projects which included the remediation of a contaminated\u00a0lagoon east of Russaifa<\/span><\/a>, a landmark project that will help clean up the lagoon and restore the link between the original watercourse upstream of the Wadi Marka catchment area and its downstream locations. This will lead to an increase of 400,000 m3\u00a0of water per year available for use in agriculture.<\/span><\/p>\n

In\u00a0Lebanon<\/span><\/a>, the EBRD continued to support the competitiveness of the private sector with the investment of \u20ac164 million in three projects.<\/span><\/p>\n

2019 also saw the opening of a third EBRD office in\u00a0Morocco<\/span><\/a>\u00a0in Agadir, which confirmed the Bank\u2019s commitment to developing the economy and promoting regional integration. Investments in the country reached \u20ac204 million in 14 projects last year.<\/span><\/p>\n

In\u00a0Tunisia<\/span><\/a>, the Bank invested \u20ac177 million through 11 projects in 2019 including a\u00a0\u20ac45 million loan to Soci\u00e9t\u00e9 des Transports de Tunis (Transtu)<\/span><\/a>\u00a0to enhance suburban train services between Tunis and La Marsa.<\/span><\/p>\n

In the\u00a0West Bank and Gaza<\/span><\/a>, the Bank financed the first\u00a0Palestinian employment-development impact bond<\/span><\/a>\u00a0to address high levels of youth unemployment providing professional training for more than 1,000 young Palestinians.<\/span><\/p>\n

The region also continued to benefit from strong donor support, including from the\u00a0European Union<\/span><\/a>, the\u00a0EBRD SEMED Multi Donor Account<\/span><\/a>*, the\u00a0Green Climate Fund<\/span><\/a>,\u00a0Global Concessional Financing Facility<\/span><\/a>, the\u00a0MENA Transition Fund<\/span><\/a>\u00a0and other bilateral and multilateral donors.<\/span><\/p>\n

Overall, the EBRD delivered a record level of impact to its regions in 2019, honoring a pledge to raise both the quality and quantity of its investments in 38 economies across three continents.<\/span><\/p>\n

The Bank financed an unprecedented 452 individual projects, compared with 395 a year earlier.\u00a0 Financing exceeded \u20ac10 billion for the first time, rising to \u20ac10.1 billion from \u20ac9.5 billion.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

The European Bank for Reconstruction and Development (EBRD) invested about \u20ac1.8 billion in the southern and eastern Mediterranean (SEMED) region\u00a0in 2019. The investments were pumped the investments into 53 projects of which 72 percent were in the private sector, while 40 percent were in the green economy. This builds on \u20ac2 billion of investments in […]<\/p>\n","protected":false},"author":410,"featured_media":50587,"comment_status":"open","ping_status":"open","sticky":true,"template":"","format":"standard","meta":{"footnotes":""},"categories":[984,6030],"tags":[6087,6463,8063],"yoast_head":"\nEBRD invested \u20ac1.8bn in 53 projects in SEMED in 2019 - Csr Egypt<\/title>\n<meta name=\"description\" content=\"The European Bank for Reconstruction and Development (EBRD) invested about \u20ac1.8 billion in the southern and eastern Mediterranean (SEMED) region\u00a0in 2019.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/csregypt.com\/en\/ebrd-invested-e1-8bn-in-53-projects-in-semed-in-2019\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EBRD invested \u20ac1.8bn in 53 projects in SEMED in 2019 - 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