Cairo – Mubasher: The European Bank for Reconstruction and Development (EBRD) is planning to buy 25% of the shares of Egyptian state-owned banks when they will be listed on the Egyptian Exchange (EGX), Managing Director for the Southern and Eastern Mediterranean (SEMED) region at EBRD said on Thursday.
The European bank is seeking to pump at least EUR 1 billion in investments into the North African nation during 2018, Heckman added, citing the signature of two agreements worth a combined EUR 85 million.
EBRD doubled its investments in the Arab world's most populous country to EUR 1.5 billion in 2017 on the back of the government's bold economic reforms, Janet highlighted.
On Monday, deputy finance minister Ahmed Kouchouk said that the schedule of the state-run initial public offerings (IPOs) programme is planned to be revealed next week.
