Cairo – Mubasher: The European Bank for Reconstruction and Development (EBRD) on Tuesday signed an agreement with a major pharmaceutical company in Ismailia Governorate to provide a package of advisory services and open new markets in five African countries.

The government seeks to provide all facilities required to promote investment in Ismailia, deputy governor Ahmed Essam stated, according to the Middle East News Agency.

Egypt aims to position Ismailia as an engine of development for the country, giving the governorate’s assets and strategic location that attract investments, Essam added.

Earlier in February, EBRD provided an $82 million financial package to Qatar National Bank Al Ahli for on-lending to enterprises in Egypt.