EBRD earmarks $200 million for Egypt SMEs

The European Bank for Reconstruction and Development (EBRD) has allocated $200 million for financing small and medium-sized businesses in Egypt, said a principle manager at the bank on Tuesday.

Speaking at an event organised by the Egyptian Businessmen Association (EBA), Reem El Saady further said that EBRD provides all the necessary assistance for the small-sized projects, whether in form of offering advisory, technical, or financial services, Ahram newspaper reported.

The EBRD has invested over €2.3 billion in Egypt through 43 projects since the start of its activities in the country at the end of 2012. The Bank’s areas of investment include the financial sector, agribusiness, manufacturing and services, as well as infrastructure projects such as power, municipal water and wastewater services and support to transport services.