EBRD secures $80 million for women-led SMEs in Egypt – official

The European Bank for Reconstruction and Development (EBRD) has provided $80 million for women-led small and medium-sized businesses in Egypt, said a senior official on Tuesday.

EBRD’s loans were provided through QNB AlAhli and the National Bank of Egypt, regional manager for SME finance and development Reem El Saady said during the Non-Banking Financial Instruments Conference in Cairo.

The EU bank secured $600 million for banks operating in Egypt to be relent to SMEs, El Saady added.

The bank actively supports SME industries in Egypt, the official added.