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FINANCIAL NEWS
Jordan, Morocco and Tunisisa to receive USD262m from EBRD
19 Sep 2012
(MENAFN) The European Bank for Reconstruction and Development (EBRD) stated that it will invest USD262 million by the end of 2012 in Jordan, Morocco and Tunisia, reported Arabian Business.
The EBRD said that it will provide Jordan’s InvestBank with a USD30 million trade finance line, in addition to a USD26.15 billion commitment to the Maghreb Private Equity Fund III, USD26.15 million to Morocco’s Socié´© G鮩rale Marocaine de Banques (SGMB), which will aslo receive a USD6.53 million trade finance facility.
It added that another project on its agenda was a USD100 million investment for a power factory near Jordan’s capital city Amman to alleviate the Kingdom’s energy shortages.
The bank, which was established in 1991, will focus its investments in North Africa and Jordan, mainly in the financial sector, providing funding to small businesses; in energy efficiency projects, municipal services, including water treatment and infrastructure.
It is worth ntoing that the EBRD, which hopes to gain approval from shareholders for investments in Egypt, was formed to help the transition of ex-Soviet bloc nations of eastern Europe.
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