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- EBRD €10.3 million loan to Hassan Allam Group
- €150,000 grant for skills enhancement in hospitality and tourism
- Targeted training programme for the Grand Egyptian Museum personnel
The European Bank for Reconstruction and Development (EBRD) is providing a financial package of €10.3 million loan and €150,000 grant to Hassan Allam Group, one of the largest privately owned construction groups in Egypt and the MENA region.
The loan will help increasing the working capital if the Group. The Bank will also assist the Group to boost its corporate climate governance standards as it operates in key sectors including renewable energy and desalination, as well as the infrastructure sector by partnering with leading global players.
In addition, the Bank’s grant will support the tourism sector in Egypt by providing a technical assistance to enhance skills for front-of-house staff at the new Grand Egyptian Museum (GEM), for which the Group was awarded an operating contract.
The training programme of the GEM’s human capital management will include a detailed organisational chart, implementation of a staff mobilisation plan and site management plan as well as the development of training materials and delivery of training of trainers in line with a detailed education management plan.
Egypt is a founding member of the EBRD. Since the start of its operations there in 2012, the EBRD has invested more than €8.9 billion in 146 projects across the country.