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TunisiaEuropean Bank for Reconstruction and Development boosts Egyptian private enterprises and trade
The European Bank for Reconstruction and Development (EBRD) is supporting the Egyptian economy with a US$ 100 million financing package to Banque du Caire for trade financing and on-lending to local micro-, small and medium-sized companies (MSMEs).
Under the facility, the EBRD will provide a US$ 50 million loan to help Banque du Caire increase the amount of funding it makes available to Egypt’s MSMEs, which remain an underserved segment of the real economy.
The funds will also support Banque du Caire in expanding its MSME lending outside the Greater Cairo region.
The EBRD is also extending a US$ 50 million trade finance limit under the EBRD’s Trade Facilitation Programme, which will be used to issue guarantees to confirming banks and provide cash advances to fund pre-export and post-import trade-related loans to local private-sector companies and for local distribution.
Egypt is a founding member of the EBRD. Since the start of its operations there in 2012, the Bank has invested close to €7.2 billion in 127 projects in the country.
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Egypt
