The European Bank for Reconstruction and Development (EBRD) is investing €27 million in a securitized local currency bond for the development of water supply infrastructure in several new Egyptian cities, according to information relayed by Afrik 21.
“This investment is part of the 20 billion Egyptian pound issue due September 2022, which is the largest securitized issue in Egypt to date and is guaranteed by the country’s Ministry of Finance. It was listed on the Egyptian Stock Exchange in November 2022”, says the EBRD.
According to the EBRD, the €27 million investment in local currency will support a series of municipal infrastructure projects covering drinking water, sanitation, treated water storage and pumping stations, street lighting and electricity transmission.
Source: Africa News Agency
