The European Bank for Reconstruction and Development (EBRD) has approved an equity investment of €20 million (US$24.2 million) in a Mena-focused fund domiciled in Luxembourg.
The Amethis Mena Fund II is focused on investing in small and medium businesses in Egypt, Tunisia, Morocco and Jordan.
Amethis is a registered alternative investment fund manager (AIFM) based in Luxembourg and dedicated to projects and investments in Africa. It has €725 million of assets under management.
The EBRD investment, scheduled for February, should enable the fund to reach its first closing target of €150 million.
The London-based EBRD was set up in 1991 as a multilateral developmental investment bank. While its early projects were focused on European countries in the former Eastern Bloc, both its investments and members have become increasingly international. The bank is now jointly owned by 69 banks, the latest being India.
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