The European Bank for Reconstruction and Development (EBRD) has raised the stakes in its Arab Mediterranean renewable energy investment program, with the announcement of $500mn of funding to be delivered in 2016 for Egyptian solar projects.

The news follows EBRD’s recent “ground-breaking” pledge to provide $250mn to private firms looking to build renewables projects in Egypt, Morocco, Tunisia and Jordan, beginning with the Khalladi wind farm in Morocco. (CONTINUED - 707 WORDS)