EBRD Invests in Egyptian Copper Rod Manufacturing

The loan is expected to aid in importing copper cathodes, crucial for cable manufacturing. This industry is vital for both Egyptian and regional markets with exports reaching Algeria, Ethiopia, and Lebanon. The EBRD investment comes amid exchange scarcity and rising commodity prices. Since 2012, EBRD has invested more than €11 billion in 169 Egyptian projects, the majority being private-sector undertakings. The loan is also part of a larger $2 billion investment program for Egypt's Nexus Water, Food & Energy (NWFE) initiative aiming to source 42% of peak load electricity from renewables by 2030.