After financing the former soviet states over the past two decades the European Bank for Reconstruction and Development EBRD intends to expand its operations to North Africa.
Egypt’s interim government has asked for loans for the support of local SME. Moreover, Morocco has also demonstrated a strong interest.
The EBRD is about to amend the articles of agreement establishing bank in order to approach the MENA region more effectively. It has contemplated to invest 3 billion Euros each year.
The London-based EBRD was founded in 1991 to support ex-communist nations on their way to market economies. Commercial partners and the bank itself invest together in private companies.