Egypt: EIB and BDC provide $100 million to finance SMEs
May 14, 2020
The European Investment Bank (EIB) has signed a financing agreement of $100 million with Banque du Caire (BDC) to finance the investments of Egyptian small and medium enterprises (SMEs) in the manufacturing and services sectors to improve their competitiveness. The new financing is expected to sustain 4 000 jobs in 100 companies.
This new agreement will help to finance the investment projects – including working capital needs – of private sector companies in the productive and services sectors of the Egyptian economy.
This new financing brings total EIB support for the Egyptian private sector to €2.7 billion since 2015. The EIB financing for private sector development contributes to sustainable growth. It aims to support SMEs – the key drivers for economic development and employment.