In 2024, the European Bank for Reconstruction and Development (EBRD) committed over €1.4 billion to Egypt, making it the primary recipient of the Bank’s investments in the Southern and Eastern Mediterranean (SEMED) region. Of this total, 84% was directed towards the private sector, underscoring the Bank’s focus on fostering private sector development in Egypt.
Additionally, the EBRD disbursed €765 million in 2024 to support the implementation of key infrastructure projects and enhance access to finance for small and medium-sized enterprises (SMEs). This brings the Bank’s total disbursements in Egypt to over €1.3 billion since it began operations in the country in 2012.
The Bank’s commitment to Egypt’s green transition was evident, with nearly half (49.4%) of the 2024 investments aimed at promoting the green economy. Notably, the EBRD invested US$100 million in the inaugural US$500 million sustainability bond issued by Arab African International Bank (AAIB), a significant step towards encouraging green financing. Seventy-five percent of the bond’s proceeds are earmarked for green projects such as industrial energy efficiency, renewable energy, and green buildings, while 25% will support social initiatives, including inclusive finance and SME development.
In a major green energy initiative, the EBRD arranged a syndicated loan of US$275 million to Suez Wind for the construction and operation of one of Africa’s largest wind farms in the Gulf of Suez. The wind farm will have an installed capacity of 1.1 GW and is expected to provide clean, renewable energy at a lower cost compared to conventional power generation.
The Bank also continued to support Egypt’s digital transformation, with an equity investment in Paymob as part of a US$22 million financing round. This investment aligns with the EBRD’s Venture Capital Investment Programme, which supports early- and growth-stage technology companies.
Further promoting inclusivity, around 60% of the Bank’s 2024 investments in Egypt focused on women’s economic empowerment, with more than one-third of the projects specifically addressing inequality and enhancing workforce capacity. Additionally, the EBRD’s small business advisory program, supported by the European Union, provided advisory services and training to more than 700 small Egyptian enterprises.
In total, the EBRD made over €2.4 billion in new investments across 50 projects in the SEMED region in 2024, with 92% of these investments directed to the private sector. The region also benefited from continued strong donor support, including from the EU, the EBRD SEMED Multi-Donor Account, the Green Climate Fund, and other donors.
