Growth amid turbulence

摘要

Political tensions are still high in parts of North Africa including Libya and Egypt, and that is a problem for construction investment. Despite that, there are notable schemes under way that are set to improve the region's infrastructure and its ability to trade on an international level. Among the largest of these is the expansion of Suez Canal announced in August, which will increase capacity on this key trade route. The first contracts for construction of the new channel were awarded in October. There has also been support from the Islamic Development Bank in terms of providing finance for ventures including a new phase of the Sharm El-Sheikh international airport in Egypt.