CIRA closes EUR 25 mn EBRD funding agreement: Cairo for Investment and Real Estate Development (CIRA) signed yesterday an agreement with the European Bank for Reconstruction and Development (EBRD) for a EGP-denominated facility worth EUR 25 mn to set up a university in Assiut’s Nasser City, CIRA said in a press release (pdf). The EBRD will also be providing the leading private-sector education outfit with a EUR 400k grant to acquire a green building certification by incorporating “innovative sustainable design features and technologies,” reads the statement. CIRA is aiming to position the university as a cultural and education hub in Upper Egypt. “Our partnership with EBRD will add an important dimension towards both accelerating and enhancing the establishment of a top model of impactful environmental friendly universities in Egypt,” CEO Mohamed El Kalla said.

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