Cairo – Mubasher: Egypt topped receivers of the European Bank for Reconstruction and Development’s (EBRD) annual investments in terms of value for the second year in a row.

In 2019, the EBRD invested EUR 1.2 billion in 26 projects in the North African country, the bank said in a statement released on Thursday.

EBRD’s investments in Egypt included EUR 183 million loan to the Egyptian Electricity Transmission Company to add 1.3 gigawatts renewable energy to Egypt’s electricity grid.

The bank’s investments also included a EUR 150 million loan granted to the National Bank of Egypt to support small companies’ sustainable energy and climate projects.