EBRD backs MSMEs in Egypt via $119.5mln loan to NBE

Reuters Images

The loan marks the first provided to a financial institution in Egypt with an A/B structure, and is poised to support businesses owned or led by women or youth

Staff Writer, Arab Finance

May 22, 2024

PHOTO

The European Bank for Reconstruction and Development (EBRD) is providing an initial loan of $119.5 million to the National Bank of Egypt (NBE) to back micro, small-, and medium-sized enterprises (MSMEs), EBRD announced on its website.

The loan marks the first provided to a financial institution in Egypt with an A/B structure, and is poised to support businesses owned or led by women or youth.

This first part of the loan falls within a larger financing program that is expected to be implemented in several stages and includes a B loan from the Netherlands-based asset manager ILX Fund.

Since the beginning of its operation in Egypt back in 2012, EBRD has invested over €11.9 billion in 178 projects, with 81% of these investments injected into the private sector.

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.