Egypt: EIB and Banque Misr strengthen cooperation to support SMEs and sustainability financing

July 6, 2022
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The European Investment Bank and Banque Misr formally agreed to strengthen cooperation to further strengthen support for SME lending and increase financing for companies in sectors most impacted by the COVID 19 pandemic in Egypt.

The first technical assistance programme will further strengthen credit risk management and adoption of SME financing best practice to enable Banque Misr to increase financing for smaller companies.

The second initiative will enable Banque Misr to better identify bankable sustainable private sector investment projects and develop new financial products targeted for SMEs. This will enhance support for sectors most impacted by the COVID-19 pandemic and is part of the EU Trade and Competitiveness Programme.

It is worth noting that on the side line of this agreement, a visit was conducted to one of the small enterprises clients who benefited from the financing, during the visit, the extent of clients’ benefits from the financing scheme and its positive impact on the project expansion was reviewed.

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Countries covered:

  • Egypt