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EIB to invest $20 billion in the Middle East

Staff writer |
The European Investment Bank (EIB) announced that over the next five years it plans to roll out 17.5 billion euros ($19.7 billion) in investment in the Middle East and North Africa, Turkey, and the Western Balkans.

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The European Union-run bank will also establish a micro-financing line worth 71.5 million euros ($80.2 million) focusing primarily on projects in Lebanon and Jordan, which are seeing a massive inflow of refugees fleeing the civil war in neighboring Syria.

Currently, the Luxembourg-based EIB has 36 billion euros ($40 billion) invested in the Middle East and North Africa, Turkey and the Western Balkans.

The EIB is the most active institution in the Mediterranean.

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