Egypt railway among EU investment priorities

The European Bank for Reconstruction and Development (EBRD) has launched a proactive investment portfolio targeting €1.5 billion of investments in Egypt and other countries within the Bank’s new region.As examples for investments, the EBRD’s President, Sir Suma Chakrabarti, during the Islamic Development Bank Governors Luncheon in Washington, over the weekend, mentioned a $30 million loan to finance Jordan’s first district heating and cooling plant and a $126 million credit line for the modernisation of Egypt’s railway system which will improve the commute for millions of passengers between Cairo and Alexandria.

The investment portfolio follows the EBRD’s operations in four Southern and Eastern Mediterranean (SEMED) countries the bank began two years ago.

In a keynote speech to the Governors of the Islamic Development Bank in Washington over the weekend, the EBRD President, Sir Suma Chakrabarti, reconfirmed the Bank’s commitment to the SEMED countries and set out its priorities.