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FINANCIAL NEWS
EBRD to invest USD1.28b in 4 Arab countries
20 May 2012
(MENAFN) The European Bank for Reconstruction and Development (EBRD) announced that it will create a USD1.28 billion fund allocated for investments in Jordan, Egypt, Morocco and Tunisia, reported Arab News.
The bank, which was established in 1991 to aid former Soviet bloc nations to adapt to a market economy, said that the investments are part of the bank’s strategy to aid democracies in the Middle East and North Africa (MENA) region following the Arab Spring uprisings.
It added that it forecasts its annual investments in the region to reach up to USD3.19 billion eventually, with investments focused on the private sector and the development of small and medium-sized enterprises (SMEs).
It is worth noting that last year; the EBRD funding in its existing countries reached USD11.61 billion.
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