Original disclosure @ EBRD website
Updated in EWS Jan 20, 2022
Disclosed by Bank Dec 10, 2021
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According to bank provided information, the investment is an equity commitment of up to US$ 15 million in favour of Algebra Ventures II Cooperatief U.A (Fund). The project will form part of the Bank's Early-Stage Innovation Facility, a EUR100 million facility through which the EBRD selectively invests in early-stage venture capital funds.
The Fund will make equity and equity-related venture capital investments in early-stage technology companies in Egypt.
The Fund will be managed by Algebra Ventures II B.V.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
G131, 171 Tahrir St, The GrEEK Campus, Cairo, Egypt
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The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent.
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You can learn more about the PCM and how to file a complaint at: http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html