The UK’s export credit agency, UK Export Finance (UKEF), announced its willingness to fund Egypt’s petrochemical projects, CEO Louis Taylor said, Egypt Oil & Gas reports.

Taylor met Egypt’s oil minister Tarek El Molla in Cairo on Saturday to discuss bilateral cooperation between Egypt and UKEF. They went through the updates on the Egyptian petroleum sector, with a focus on the ongoing refining projects in Cairo, Alexandria, Suez, and Asyut.

Taylor stated that the reform and modernization of the petroleum sector makes Egypt more attractive to foreign investment.