The shareholders of the European Bank for Reconstruction and Development (EBRD) agreed on the creation of a €1 billion special fund to launch its first operations in Arab countries.
The fund “will start investing in emerging Arab democracies, in response to the wave of political changes in parts of the Middle East and North Africa,” said the bank in a statement.
The decision was taken at the bank’s general assembly meeting in London. It will invest this year in four countries: Egypt, Tunisia, Morocco and Jordan.
The EBRD has already opened offices in Cairo, Casablanca, Tunis and Amman.
