The European Bank for Reconstruction and Development (EBRD) exceeded the €1 billion mark in investments in Egypt last year, according to Odile Renaud-Basso, the bank’s president.
These investments were diversified across various sectors, ranging from small and medium-sized enterprises and the banking sector to infrastructure and logistics services.
In a discussion with Al Sharq at the World Economic Forum in Davos, Switzerland, Renaud-Basso added that the bank’s investments in Morocco last year amounted to approximately €600 million.
These funds were injected into green transformation projects, municipal projects, and the private sector. She indicated the bank’s intention to continue investing in Morocco and to start supporting women’s projects there.
Founded in 1991, the EBRD aimed to facilitate the post-Cold War era in Central and Eastern Europe. About a decade ago, it shifted its focus towards the Southern Mediterranean, providing developmental financing to a limited number of African countries, with Morocco, Tunisia, and Egypt at the forefront.
Regarding participation in the reconstruction of Gaza, Renaud-Basso stated that the bank is waiting for a resolution to the conflict before determining its role. She noted that the bank has been financing projects in the West Bank for several years, focusing on the private sector, banks, and the manufacturing industry.
Concerning the Blue Mediterranean Partnership, Renaud-Basso mentioned that the fund, which focuses on financing projects that improve the quality of the Mediterranean Sea and reduce pollution, has been established in partnership with European countries, institutions, Egypt, and Morocco, and is expected to be operational soon.
