Egypt: EBRD loan for services company


Issue 286 - 11 Oct 2014 | 1 minute read

The European Bank for Reconstruction and Development (EBRD) is considering providing a $28m loan to finance the expansion of Egyptian oil field services company Advanced Energy System. The expansion includes the purchase of an offshore drilling rig, to be operated in Egypt. The loan aims to increase domestic private sector participation in the Egyptian offshore drilling industry, which is dominated by a handful of large multinationals and public sector companies.

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