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TunisiaUS$ 200m European loan for Cairo’s green shopping centre
The European Bank for Reconstruction and Development (EBRD) is providing a US$ 200 million loan to develop City Centre Almaza, a new retail and entertainment centre in the Egyptian capital Cairo. City Centre Almaza, to be launched in September 2019, will be environmentally friendly and create jobs for young people.
The new centre will cover an area of ca. 103,000 m2 and it will be developed in line with latest standards to adopt energy efficiency measures, reduce electricity and water consumption as well as reduce greenhouse gas emissions.
At the same time, an on-site learning facility will be created which is expected to improve access to training and employment opportunities in retail and hospitality for young women and men. The participants will develop new skills and gain employment opportunities through the training.
The EBRD has invested almost €5 billion in more than 90 projects in Egypt since it started operations in the country in 2012. The Bank invests in all sectors of the economy to support the private sector and sustainable development.
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Egypt
