The UK’s development finance institution British International Investment (BII) unveiled plans to inject $100 million in investments into Egyptian startups, according to a press release on September 7th.

BII reaffirms its commitment to bolster partnership with Egypt and increase financing for green energy projects.

The British institution announced investments in Egyptian venture capital (VC) firms Algebra Ventures and Endure Capital to support early-stage companies.

“Egypt is one of BII’s priority markets, given the growth potential this country has to offer. BII’s investment deals, whether in financial services, health or clean energy, illustrate the strength of the UK-Egypt trade and green partnership,” British Ambassador to Egypt Gareth Bayley said.

BII has pledged $760 million in investments in Egypt in a plethora of sectors including clean infrastructure and energy, healthcare, manufacturing, and financial services. It supports over 50 companies in Egypt with 32,000 jobs created across Egypt.

 

 

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