EBRD invests $713m in 15 projects in Egypt: Philip ter Woort

Egypt Director at the European Bank for Reconstruction and Development (EBRD) Philip ter Woort gave an interview with Daily News Egypt to discuss investment projects, the current economic situation in Egypt, and discuss future financing plans.

What sectors does the EBRD focus on in Egypt, and how many projects are currently financed by the bank?

The bank has been investing in Egypt since the end of 2012, and I am very pleased to say that. Despite the challenges that Egypt faced last year, the bank had a successful performance during the two years, and to date, EBRD has committed to 15 projects, with total investments of approximately €565m [$713m] through these projects.

The bank has been able to invest in a wider range of sectors in the country, as we have concluded projects in the agribusiness sector, transport, property, banking, and in the manufacturing and services sector. We have also concluded three projects in the essential energy sector.

What is the status of the EBRD’s project with the ENR [Egyptian National Railways]?