Algeria
Egypt
Israel
Jordan
Lebanon
Libya
Morocco
Palestine *
Syria *
TunisiaEBRD, EU and GCF expand access to finance for Egyptian private sector
The European Bank for Reconstruction and Development (EBRD), the European Union (EU) and the Green Climate Fund (GCF) are boosting green finance and the development of value chains for the Egyptian private sector with a financing package of US$ 82 million to Ahli United Bank in Egypt (AUBE).
The package consists of a US$ 30 million credit line for on-lending to small and medium-sized enterprises (SMEs), a US$ 10 million value chain loan under the EU-funded Trade and Competitiveness Programme, and a US$12 million green value chain loan supported by the GCF and the EU, as well as a US$ 30 million trade facility under the EBRD Trade Facilitation Programme (TFP).
The SME credit line will help increase access to finance for small businesses that remain underserved despite their crucial role in the Egyptian economy. The loan will also allow AUBE to extend its support to SMEs located in remote regions outside Greater Cairo and Alexandria.
Egypt is a founding member of the EBRD. Since the start of its operations in Egypt in 2012, the EBRD has invested more than €8 billion in 138 projects in the country. The EBRD’s areas of investment include the financial sector, agribusiness, and manufacturing and services, as well as infrastructure projects such as power, municipal water and wastewater services, and contributions to the upgrade of transport services.
For more information
Countries covered:
-
Egypt
Latest News
