EBRD to Boost Investments in Egypt Worth EUR 1 Bln

European Bank for Reconstruction and Development ''EBRD'', expects to keep investments in Egypt at over EUR 1 billion this year, boosting it's equity portfolio through a delayed privatisation programme.

Janet Heckman, managing director for the southern and eastern Mediterranean, hopes to help finance a monorail project which will link Cairo to a new capital being built in the desert, and for which a consortium led by Bombardier has been identified as the preferred bidder.

Heckman reported that as of last month we’ve invested roughly a little over 5 billion euros, in 95 projects, but 11 of which are private sector. In addition equity only makes up about 5% of the EBRD’s portfolio in Egypt, but that share was expected to rise.

Noteworthy, the London-based EBRD has extended its operations over the last decade to more than 35 countries, from Morocco to Mongolia.