The European Bank for Reconstruction and Development (EBRD) has already extended some EUR 600 mn of the USD 1.4 bn in financing it has earmarked for Egypt in 2018, Managing Director for the Southern and Eastern Mediterranean Janet Heckman said yesterday. (We believe the newspaper in question is off on its choice of currency for the 1.4 bn figure, but it is indeed given in the story in USD and not EUR.) The EBRD has already disbursed EUR 600 mn in financing to Egypt in the first six months of 2018 to support major projects, according to Heckman. The EBRD has a current project portfolio of EUR 3.14 bn in 79 active portfolio projects, according to the bank’s website.

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