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TunisiaEBRD boosts SME access to finance in Egypt
The European Bank for Reconstruction and Development (EBRD) is stepping up its support for small and medium-sized enterprises (SMEs) in Egypt with a financing package worth US$ 25 million for the Export Development Bank of Egypt (EBank).
It will provide a financing package of an uncommitted multi-currency Trade and Facilitation Programme limit of up to US$ 10 million. The TFP limit will help with the issuance of guarantees in favour of confirming banks to support trade finance instruments issued by EBank and to provide cash advances to fund trade-related loans to private companies for pre-export, post-import financing and the distribution of imported goods.
The EBRD financing package also includes two senior unsecured loans of up to US$ 15 million in total. The first is for up to US$ 5 million under the Women in Business (WIB) Programme, which will assist EBank in lending to women-led SMEs in Egypt.
The second loan of up to US$ 10 million will be lent on to Egyptian private-sector SMEs that have limited access to finance.
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Countries covered:
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Egypt
