Egypt leads EBRD’s annual investments in 2019

Egypt leads EBRD’s annual investments in 2019

The value is part of EBRD's EUR 1.8 billion investments in 53 projects in the southern and eastern Mediterranean (SEMED) region in 2019 from EUR 2 billion investments in 50 projects in 2018, the EBRD's official website announced on Thursday.. EBRD managing director for the SEMED region, Heike Harmgart, said: "We are very proud to contribute to the development of the economy in this vibrant region creating more job opportunities for its population, better services and a cleaner environment.". To boost Egypt's dependence on renewable energy, the bank has offered EUR 183 million to the Egyptian Electricity Transmission Company to set up new renewable energy plants which will help in integrating 1.3 GW of new renewable energy into the Egyptian electricity system.. The bank also cooperated with City Centre Almaza to provide training and employment to people with disabilities in the private sector as part of its eleven projects in the SEMED region..