One billion euros.. The European Bank for Reconstruction aims to invest in Egypt end of this year

Khaled Hamza, Director of the European Bank for Reconstruction and Development’s office in Egypt, said that the bank’s portfolio directed to the Egyptian market currently amounts to 800 million euros, and the target is to reach one billion euros by the end of this year.

Hamza added that financing directed to banks accounts for 50% of the bank’s portfolio in Egypt, pointing to studies the bank is conducting to grant financing to two banks operating in the Egyptian market before the end of this year to re-inject it into small and medium enterprises.

“We have a portfolio of targeted investments for the transportation and electricity sectors that are expected to be pumped over the next year, distributed over 300 million euros to support and develop networks and about one billion euros for companies operating in the electricity sector, in addition to 1.2 billion euros for transportation projects that are invested in partnership with the private sector.” Hamza said.

The bank participated in launching the “Novi” platform and played a major role in electricity-related projects, especially with regard to studies to reach a ready-made, bankable model.

Continued: The European Bank for Business Restoration is interested in supporting the participation of the private sector, which accounts for between 75-80% of its investment portfolio in Egypt.

He pointed out that since its presence in the Egyptian market in 2012, the bank’s investments have not been less than one billion euros annually, a large portion of which is directed through local banks to reach small and medium-sized companies.

Egyptian market

Hamza said that the bank is working in the Egyptian market according to a strategy that works to localize a number of industries, most notably the automobile industry and the development of the transportation system. He pointed out that the bank is participating in the strategy of developing the automobile industry with the aim of localizing the feeder industries that enjoy attractiveness in Egypt in the automotive and energy sectors, in addition to rehabilitating... Technical employment in these industries and cooperation with technical schools to create cadres capable of working in these fields with the ability to implement plans and strategies.

Regarding the government proposal programme, Hamza said that the European Bank for Reconstruction pays great attention to all projects and companies proposed for exit, and is in constant contact with consultants appointed by the government.

It is worth noting that the European Bank has pumped investments of approximately 10 billion euros into Egypt over ten years, from 2012 to 2022, in 152 projects in various sectors.