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ArabFinance: The Export Development Bank of Egypt (EBE) has secured a $5 million loan from the European Bank for Reconstruction and Development (EBRD) to on-lend to women-run small and medium-sized enterprises (SMEs) in Egypt, according to a statement by the EBRD.
The loan will support EBE's lending activities and expand access to finance for underserved women-led SMEs. It aims expand access to funding for female entrepreneurs and increase womens participation in the economy.
The loan comes under the EBRDs Women in Business program which provides both financial and technical assistance. The program also saw CI Capitals microfinance arm Reefy receive EGP 80 million in development finance last month. The Reefy initiative aims to address the financing gap for women in rural areas.
The WiB loan offers a combination of longer-term financing than what is available in the market and technical expertise into a package that promotes financing for women-led SMEs in Egypt.
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