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TunisiaEuropean Bank for Reconstruction and Development supports local businesses in Egypt
The European Bank for Reconstruction and Development (EBRD) is providing loans for up to US$ 100 million to National Bank of Kuwait Egypt (NBKE) for on-lending to private businesses in Egypt to address the economic impact of the coronavirus pandemic.
The loan is the second in the country under the EBRD’s coronavirus Solidarity Package, established to meet the immediate short-term financing needs of existing clients.
NBKE will provide loans to firms with a special focus on small and medium-sized enterprises (SMEs) that are experiencing a decrease in their activities and turnover.
Egypt is a founding member of the EBRD. Since the start of its operations there in 2012, the Bank has invested close to €6.5 billion in 115 projects in the country.
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Egypt
