European Bank for Reconstruction and Development (EBRD) arranged a syndicated loan, consisting of a loan facility of up to $170 million to strengthen safety and environmental standards in Egypt's energy sector.

For the first time in the southern and eastern Mediterranean (SEMED) region, the European Bank for Reconstruction and Development (EBRD) led and arranged a syndicated loan, consisting of a loan facility of up to $170 million to Advanced Energy Systems SAE (ADES), an independent Egyptian oil services company, the bank said on Thursday.