EBRD, ALEXBANK to boost Egypt SMEs with $100 mln

The European Bank for Reconstruction and Development (EBRD) has signed an agreement with ALEXBANK to support the development of SMEs in Egypt with a US$50 million financing package.

The new agreement will include a grant for technical support used by AlexBank to enhance the skills and increase the competitiveness of the SMEs through training courses and workshops.

EBRD is also extending a further US$ 50 million to ALEXBANK under its Trade Facilitation Programme (TFP).

The EBRD has invested close to €2 billion in Egypt through 36 projects since the start of its activities in the country at the end of 2012.