First Independent Mena Newspaper
The European Bank for Reconstruction and Development (EBRD) announced Friday a €16 million loan to Varroc Lighting Systems Morocco, the Moroccan subsidiary of the Indian motor industry’s lighting systems giant, Varroc Engineering Pvt Ltd. The loan will allow Varroc Engineering to supply the Tangier Renault factory and the Peugeot PSA plant in Kenitra, as well […]
The European Bank for Reconstruction & Development (EBRD) announced Wednesday a $44 million loan for the Egyptian dairy and juice producer, Beyti. The money will enable the company to refinance existing short-term loans with a longer tenor loan more suitable for its investment and development phase. The EBRD loan will also help the Egyptian company […]
The European Bank for Reconstruction and Development (EBRD) has announced a €205 million loan to Egypt to help the transports authority rehabilitate Cairo Metro, the major means of public transport in the Egyptian capital. The funds will finance urgent works on Line 1 – the oldest of the Cairo underground lines – which remains the […]
The European Bank for Reconstruction and Development (EBRD) has granted Novares Morocco, the Moroccan subsidiary of the French automotive supplier Novares Group, a €16.5 million loan. The amount will be used to finance the Novares project in Morocco, supplying the plants of Peugeot PSA in Kenitra and of Renault in Tangiers. The funds will also […]
The European Bank for Reconstruction and Development (EBRD) has granted its 2018 “Climate Resilience Gold Award” to Morocco in recognition for the country’s Saïss Water Conservation Project. The project pioneers the shift from the use of unsustainable groundwater through the transfer of an average of 100 million square meters of surface water from the M’Dez […]
The European Bank for Reconstruction & Development (EBRD) has provided the Tunisian banking and insurance software developer Vermeg a €25 million loan for the acquisition of Lombard Risk, a leading global provider of integrated regulatory reporting and collateral management solutions. Founded in 2002, Vermeg counts major internationally-renowned financial institutions and central banks in more than […]
President of The European Bank for Reconstruction and Development (EBRD), Suma Chakrabarti, who is paying a visit to Morocco underscored that EBRD will continue supporting Morocco in priority areas such as promoting youth employment, facilitating the setting up of SMEs and encouraging green economy projects. Chakrabarti said, during a meeting with the head of government […]
The European Bank for Reconstruction and Development has lent French aerospace manufacturer Figeac Aéro SA €38 million to finance its production expansion in Morocco and Tunisia. The EBRD loan will support the transfer of skills and advanced technology and an improvement in local quality standards towards international levels. The creation of new jobs in countries […]
The European Bank for Reconstruction & Development has approved a €9.7 Million loan to Fondation Albaraka, one of the largest microfinance institutions in Morocco for on-lending to local micro enterprises. Access to finance through banks remains extremely limited for micro, small and medium-sized enterprises (MSMEs) in Morocco. The EBRD funds will offer much-needed support for […]
The European Bank for Reconstruction & Development (EBRD) is supporting small and medium-sized businesses in Morocco, Tunisia & Egypt with a €15 million equity investment in the first close of Mediterrania Capital III LP (MC III), which could increase up to €35 million in subsequent closings. This is the third fund of Mediterrania Capital Partners, […]