Banque Du Caire may get $50 mn EBRD loan for SMEs in Egypt

European Bank for Reconstruction and Development (EBRD) is studying the possibility of providing Banque du Caire with a $50 million loan to on-lend to private sector MSMEs, according to the bank’s website.

The loan would increase the availability of finance to MSMEs and allow for greater access to finance for the “largely underserved segment.”

The EBRD has ramped up its SME financing operations through Egyptian banks since the beginning of the pandemic, which managing director for the SEMED region Heike Harmgart told us was key to channelling liquidity to cash-starved firms.

The bank has already invested some EUR 1.15 billion in Egypt in 9M2020, Egypt Deputy Director Khaled Hamza told Masrawy.