Egypt, Morocco receive US$20m from EBRD to develop high-quality hospitals

NORTH AFRICA – The European Bank for Reconstruction and Development (EBRD) has announced that it is contributing US$20 million to support the development of high-quality hospitals in Egypt and Morocco. The financing by EBRD is being channeled to the US$125 million facility arranged by IFC under a “Commodity Murabaha” compliant with Islamic law. “The EBRD is supporting the development of high-quality hospitals in Egypt and Morocco, teaming up with other international financial institutions to deliver funding under an Islamic finance structure, also known as a “Commodity Murabaha”, that the Bank…

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