Egypt: EBRD supports capacity building for SME loans
April 6, 2016
The European Bank for Reconstruction and Development (EBRD) has announced its intention to contribute to internal capacity building at the National Bank of Kuwait– Egypt (NBKE) through staff training in SME lending and specifically, among others, in the areas of risk management, sales and marketing. The bank also launched the recruitment process for a consultant to provide the related training, on Tuesday 5 April 2016.
Originally founded as the Al Watany Bank of Egypt in 1980, the bank was renamed NBKE after it was acquired by National Bank of Kuwait in 2007. NBK-Egypt is the 13th largest Egyptian bank by assets and its activities cover a wide range of corporate, retail and investment banking services in Egypt. It has made loans to SMEs an important pillar of its growth strategy.
The EBRD ‘senior unsecured loan’ of up to USD$50 million to NBK will increase funding available to Egyptian SMEs, which are currently under-served by the local banking sector (the Project). The loan will assist NBK-Egypt in developing its SME lending activities and expand access to finance for SMEs. It will also be supported by technical assistance in the form of capacity building trainings, for which the consultant is required.