EBRD’s investments in Egypt nearly triple y-o-y in 1H2020 to EUR 459 mn

EBRD’s investments in Egypt nearly triple y-o-y in 1H2020 to EUR 459 mn: The European Bank for Reconstruction and Development (EBRD) has invested EUR 459 mn in Egypt during the first six months of 2020 — nearly triple the EUR 166 mn it doled out during the same period last year, according to a statement (pdf). The investments include a USD 200 mn financing package the EBRD granted to QNB Al Ahli, another USD 200 mn in funding to the National Bank in Egypt, and USD 100 mn credit lines granted to CIB and the National Bank of Kuwait-Egypt. Egypt now accounts for nearly 10% of the EBRD’s total 1H2020 investments across the 38 economies in which it invests, which have now surpassed EUR 5 bn. Egypt was the top market for EBRD investments for the second year running last year, receiving EUR 1.2 bn over the 12 months.