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European bank invests in rideshare app to keep Egyptian women safe

The European Bank of Reconstruction and Development is investing $10 million in the startup Swvl, which operates in Egypt.

A European bank has announced an investment in a ride-sharing company with the aim of making transportation in Egypt safer for women.

The European Bank of Reconstruction and Development signed an agreement to invest $10 million in the ride-sharing company Swvl. The London-based bank said the investment aims to "advance safety for women on buses in Egypt” in a press release yesterday.

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