EBRD is providing Egypt’s private sector with $532 investments

CAIRO - 12 July 2023: The European Bank for Reconstruction and Development (EBRD) is supporting Egypt’s private sector institutions through more than $532 million soft development financing package.

The package is divided to $400 million for the National Bank, $100 million for Banque Misr, and €30 million euros for Mediterrania Capital fund, which accounts for more than $32 million.

More than 78% of the EBRD’s investments in Egypt are already directed to the private sector in various fields.

The $100 million package for Banque Misr aims to enhance financing directed to micro, small and medium enterprises (MSMEs) in a way that supports inclusive and sustainable growth, and to increase financing directed to MSMEs in areas that have less access to financial services.

The $32.5 million for the Mediterrania Capital IV Fund aims to direct investments of 350 million euros in investments for medium-sized companies in the health care, retail, financial services and manufacturing sectors to develop the economy in Egypt, Tunisia and Morocco, paying special attention to companies led by women to enhance their access to the necessary economic opportunities.

Minister of International Cooperation and Governor of Egypt at the EBRD, Rania El Mashat, highlighted the close partnership with the bank and private sector institutions in Egypt under the umbrella of the joint country strategy for 2022-2027, which works to achieve 3 main goals: strengthening competitiveness, increasing growth rates and stimulating the role of the private sector in development.

EBRD has provided financing during the past year worth 737 million euros for the private sector to support SMEs, while the bank’s total investments in Egypt amounted to 1.3 billion euros in 2022.

Since the start of the EBRD's operations in Egypt in 2012, investments have amounted to more than 10 billion euros to implement 163 projects.