The European Bank for Reconstruction and Development (EBRD) is making its first ever investment in Egypt. It will invest “tens of millions” of euros in an Egyptian white goods manufacturer taking an equity stake in the company.
The initial project is set for formal approval this month. This will be followed by total Egyptian investment of €200-300mn for 2013, leading up to a “steady state” level of around €1bn/year in the following years, a senior EBRD source tells MEES. (CONTINUED - 281 WORDS)