EBRD hails Egypt’s economic reforms

Egypt’s steps over the past three years to encourage investment have been hailed by the European Bank for Reconstruction and Development (EBRD).

The Egyptian government has been implementing a promising economic program including a new investment law.

The program is not a mere economic reforms; it establishes an integrated financial system, EBRD’s First Vice President Jurgen Rigterink told Extra News TV news channel.

Growth rates expected in the next years show the impact of the program, Rigterink added, noting that Egypt has become one of the biggest world receivers of EBRD investments.

He estimated the bank’s investments in Egypt at around 5 billion euros.

Source: State Information Service Egypt