the EBRD signed eight agreements worth $325 million to Egypt’s banks to finance small and medium enterprises (SMEs), trade and women's projects.
The EBRD has invested around €1.3 billion in 2017 in different sectors.
The European Bank for Reconstruction and Development (EBRD) signed Tuesday a $10-million trade facility agreement with Al Ahli Bank of Kuwait–Egypt (ABK–Egypt).
QNB AlAHLI will provide business advice, training and support for women entrepreneurs and women-led businesses.
As per the deal, the EBRD will also provide cash financing for pre-export and post-import.
The new agreement is deemed the third deal under the GEFF, which is supported by a €23.3 million grant offered by the EU.
The EBRD credit line to Banque Misr will enable Egypt's second largest public bank to increase its funding for SMEs.
While SMEs shape around 90 percent of all firms in Egypt and provide the majority of jobs, their access to finance remains a challenge
In an effort to absorb SMEs into the formal sector, a revamped government agency is offering loans of up to LE 5 million to encourage new ventures.
Canadian mining companies are about to invest in a gold purification plant and pump Egypt $10 billion in various sectors over the next three years.
A year after Egypt floated the pound among other economic reforms, we seem to be finally reaping some of the benefits.
Around 70 percent of the delegation will be fresh entries, UK Ambassador to Egypt John Casson said.
