Arab Today, arab today ebrd egypt investment to begin before yearend
Last Updated : GMT 13:22:36
Arab Today, arab today
Arab Today, arab today

EBRD: Egypt investment to begin before year-end

Arab Today, arab today

Arab Today, arab today EBRD: Egypt investment to begin before year-end

London - AFP

The new head of the European Bank for Reconstruction and Development said Monday that the lender hoped to begin investing in Egypt before the end of the year. The EBRD last month launched its first investments in emerging Arab democracies, approving three projects in Jordan, Tunisia and Morocco -- but it had given no details on Egypt. After years concentrating on investment partnerships with private-sector firms across the former Soviet bloc, the EBRD agreed in May to invest a total of 1.0 billion euros ($1.3 billion) across north Africa and the Middle East. \"On Egypt, it\'s very simple, the reason for the delay ... is simply because there was a political situation in June, July and August,\" EBRD president Suma Chakrabarti told a London press conference on Monday. \"We didn\'t really have anyone to talk to at the time, as the government was being re-formed. Presidential elections took place and a new government then had to be formed.\" \"That\'s the only reason for the delay. Actually there is a good pipeline of projects being developed in Egypt,\" he said, adding that the first project would likely come \"in November\" or \"certainly\" towards the end of the year. Chakrabarti, a former top British civil servant, was elected four months ago as the head of the EBRD. He stressed that the bank wanted to make progress in Egypt, Jordan, Morocco and Tunisia before considering further expansion into nations like Libya. Questioned if the bank had other nations on the radar, Chakrabarti replied: \"Not right now, but there\'s always three or four countries that want to have conversations with us about being involved in the EBRD -- whether it\'s with regard to business or membership.\" \"No, there isnt any great push at the moment. What would not be surprising (was) if Libya wanted to talk to us about it. And we would obviously have a conversation. \"But I\'d just like to get off the ground in the four countries that we are in -- Egypt next -- because it\'s really important to do well first, from a managerial perspective.\" The bank was formed in 1991 to help former Soviet bloc countries such as Hungary, Kazakhstan and Russia to switch and adapt to a market economy.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today ebrd egypt investment to begin before yearend Arab Today, arab today ebrd egypt investment to begin before yearend

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today ebrd egypt investment to begin before yearend Arab Today, arab today ebrd egypt investment to begin before yearend

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday