The European Bank for Reconstruction and Development (EBRD) has stepped up its support for the economic development of Egypt, with the opening of an office in Alexandria yesterday which will have a major focus on the promotion of small and medium-sized enterprises (SMEs).
The EBRD has been investing in Egypt since 2012, helping modernise the private sector and working to improve standards of living by raising the quality of public services.
From its office in Cairo, the EBRD has also placed a strong focus on sustainable energy and has unveiled a major programme of investment in renewable energy sources. In total the Bank has financed over 50 projects worth more than €2.6 billion.
The office in Alexandria underscores the EBRD’s commitment to reaching out to Egypt’s regions. The EBRD is the first international financial institution in Egypt to establish a presence outside of the national capital.