EBRD partners Attijari bank Tunisia to support local pharmaceutical sector

TUNISIA – The European Bank for Reconstruction and Development (EBRD) has partnered with Attijari bank Tunisia to facilitate access to finance for Tunisian Laboratoires Teriak S.A. The collaboration underscores the EBRD and Attijari bank Tunisia’s commitment to supporting Tunisian companies through the partnership they established in 2020. It also reaffirms the importance of companies to Attijari bank Tunisia’s development strategy.…

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EBRD provides US$41.71M loan to Morocco’s Ports Agency for climate resilience

MOROCCO – The European Bank for Reconstruction and Development (EBRD) has provided US$41.71 million loan to Moroccan Agence Nationale des Ports (ANP) for climate resilience of ports of the North African Kingdom. The loan is the first to a Moroccan state-owned entity without a sovereign guarantee. It will comprise two tranches: a US$15.64 million committed loan and US$26.07 million of…

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EBRD and investment firms take majority stake in Egypt’s GlobalCorp

EGYPT – A consortium of investors comprising Paris-based investment firm Amethis, the European Bank for Reconstruction and Development, and private equity firm SPE Capital has acquired a majority stake in Egypt’s financial services provider GlobalCorp. Established in 2015, GlobalCorp is a leading Egyptian non-bank lender with a current focus on leasing and factoring solutions for corporates and small and medium-sized…

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EBRD partners Bank Al-Maghrib to support climate risk management in Morocco

MOROCCO – The European Bank for Reconstruction and Development (EBRD) has signed an agreement with Bank Al-Maghrib and Groupement Professionnel des Banques du Maroc (GPBM), to promote green finance and support climate and environmental risk management in Morocco. The three organizations agreed to establish “a framework of cooperation on the implementation of Directive 5/W/21 on financial risk management issued by…

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EBRD invests US$100M in Egyptian solar power green bond

EGYPT – The European Bank for Reconstruction and Development (EBRD) is investing US$100 million in a certified green bond issuance of US$334.5 million, backed by Scatec’s six solar power plants in Egypt. The Bank is also providing a US$30 million Credit Enhancement Facility (CEF) for participating institutional investors. Certified under the Climate Bonds Standard, this bond is the first private…

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EBRD allocates US$276M loan for the Alexandria-Abu Qir metro line

EGYPT – The European Bank for Reconstruction and Development (EBRD) has allocated a US$276.16 million loan to the Egyptian government as part of its “Green Cities” programme. The funding will be used to upgrade and electrify a railway line between the port city of Alexandria and the city of Abu Qir in the northeast of the country. The initiative is…

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EBRD launches US$180M Green Economy Financing Facility II

MOROCCO – The European Bank for Reconstruction and Development (EBRD) has launched US$180.73 million Green Economy Financing Facility Morocco II (GEFF II). Green Economy Finance Facility Morocco II (GEFF II) is a financing line set to support sustainable energy initiatives with the support of the European Union (EU) and the UN-backed financial instrument Green Climate Fund (GCF). The GEFF II…

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IFC, African and European Partners launch Alliance to support private sector growth in Africa

AFRICA  – International Finance Corporation (IFC), African and European partners have launched Alliance for Entrepreneurship in Africa to support private sector growth in Africa. The Alliance will combine and focus the technical and financial strengths of its members to improve Africa’s business environment and support the growth and success of small and medium-sized enterprises (SMEs), women in business, and young…

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Morocco and EBRD Sign MoU to strengthen the country’s economy

MOROCCO – Morocco has signed a memorandum of understanding with the European Bank for Reconstruction and Development (EBRD) on the organization of the bank’s annual meeting in Marrakech. Minister Nadia Fettah Alaoui commended Morocco’s relations with the bank during a visit to Rabat by Kazuhiko Koguchi, Secretary-General of the European bank. The minister noted the willingness of the Moroccan government…

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EBRD partners with QNB ALAHLI to accelerate trade finance digitalisation in Egypt

EGYPT – The European Bank for Reconstruction and Development (EBRD) has partnered with QNB ALAHLI to accelerate the digital transition of trade finance. EBRD achieved the transformation by facilitating three test letters of credit on the digital trade finance network Contour The trial took place with QNB ALAHLI, one of Egypt’s largest commercial banks, acting as issuing bank and the CargoX Platform…

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