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TunisiaEBRD promotes Egyptian women entrepreneurs
The European Bank for Reconstruction and Development (EBRD) is boosting its support for women entrepreneurs in Egypt, with a loan of EGP 700 million (€13.2 million equivalent) to Tasaheel for Financing (Tasaheel), Egypt’s largest lender to micro, small and medium-sized enterprises (MSMEs).
Under the EBRD’s Women in Business programme, the loan will help increase access to finance for privately owned, women-led MSMEs, with a focus on regions outside Greater Cairo and Alexandria that are underserved by the banking sector. Alongside the loan, the EBRD will provide Tasaheel with a comprehensive technical cooperation package that will help introduce new financial products, tailored to the needs of women-led MSMEs, and improve access to finance. It will also include capacity-building activities for specialised lending and monitoring.
The EBRD’s Women in Business programme promotes the participation of women in the economy and provides financial, advisory, training and mentoring support to women entrepreneurs. The programme, which covers most sectors and industries, focuses on women-led small businesses with fewer than 250 employees and less than €50 million in annual turnover. This loan marks the EBRD’s third engagement in Egypt’s microfinance sector.
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Egypt
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