Sharm El-Sheikh – Mubasher: Al-Baraka Bank Egypt, subsidiary of Bahrain’s Al Baraka Banking Group, is intending to inject EGP 5 billion worth of fresh investments in the Egyptian market, announced CEO Ashraf El-Ghamrawy.

The bank will expand during the coming three years through opening 15 new branches in several governorates, the top official added, on the sidelines of Egypt’s economic summit that kicked off Friday in the Red Sea resort of Sharm El-Sheikh.

El-Ghamrawy also said that the outlook for Egypt’s economic is positive.

The Egypt Economic Development Conference (EEDC), which runs for three days 13-15 March, aims to attract more foreign investments to prop up the country’s stalled economy.