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TunisiaThe European Bank for Reconstruction and Development fosters private businesses in Egypt
The European Bank for Reconstruction and Development (EBRD) is supporting the real economy in Egypt with a US$ 200 million financing package to Banque Misr for trade and for on-lending to small and medium-sized enterprises (SMEs) and private businesses – a key segment of the local economy – impacted by the coronavirus pandemic.
Under this facility, the EBRD will provide a US$ 100 million loan to enable Banque Misr to provide short-term financing to private SMEs and corporates facing liquidity strains due to a decrease in their activities and turnover caused by Covid-19.
In addition, the Bank is increasing an existing trade finance limit to Banque Misr by US$ 100 million under the EBRD’s Trade Facilitation Programme (TFP), in order to help meet the increased demand for import and export transactions.
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Countries covered:
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Egypt
