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EBRD Supports Manufacturing in Egypt

Metal News - Published on Tue, 16 Jul 2019

Image Source: EBRD
Egypt’s private sector will benefit from a new USD 25 million loan to United Metals Company a copper rods manufacturer and supplier to many local producers. The funds will boost the company’s working capital and co-finance the implementation of a comprehensive environmental and social action plan which includes the purchase of modern equipment that will set new quality standards in Egypt’s wire and electrical products industry.

Addressing skills mismatches and enhancing technical skills in Egypt’s private sector, EBRD provided to Elsewedy Technical Academy a technical cooperation package financed by the Swiss development cooperation agency, SECO. In 2017, EBRD provided a first loan of US$25 million to UMC.

Established in 1998, UMC is a subsidiary of Elsewedy Electric, one of the largest cable and electrical product manufacturers in the Middle East and Africa, with 30 production facilities in 14 countries.

Source :

Posted By : Ratan Singh on Tue, 16 Jul 2019
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