The European Bank for Reconstruction and Development (EBRD) is pleased to announce a new partnership with the Arab Fund for Economic and Social Development, working with it on a project supporting micro, small and medium-sized enterprises (MSMEs) in Egypt. This technical cooperation project will provide advisory services and institutional support to more than 40 MSMEs across the country, with a strong focus on women- and youth-led businesses. Activities will include tailored business advice and support for digital and green transformation, as well as seminars, workshops and training sessions fostering market development. Expected outcomes include improved productivity, increased turnover and greater access to finance, as well as job creation at beneficiary firms.

Mark Davis, the EBRD’s Managing Director for the Southern and Eastern Mediterranean, said: “The EBRD has been supporting MSMEs in Egypt since 2012, helping them to become more competitive, resilient and sustainable. We are excited to launch this new cooperation with the Arab Fund, a new donor partner. The tailored advice and expertise offered through this project will directly respond to the needs of local businesses, helping them to grow, innovate and thrive. This is the Arab Fund’s first cooperation agreement with the EBRD – and the first time the Bank has received funding from a donor based in the Arab world. The EBRD hopes this will mark the start of wider regional cooperation supporting private-sector development across the economies where it invests.