EBRD, NBKE support MSMEs in Egypt through $40 million loan deal

The National Bank of Kuwait – Egypt (NBK Egypt) has secured a $40 million loan from the European Bank for Reconstruction and Development (EBRD) to be on lent to eligible micro, small and medium-sized enterprises (MSMEs).

The loan is under the EBRD’s Financial Intermediaries Framework (FIF) and will support NBKE’s lending activities and expand access to finance for the underserved MSME segment, according to data released by the bank on Thursday.

“The loan offers a combination of longer-term financing than what is available in the market, and technical expertise dedicated to capacity building, in addition to a gender-based focus, into a package that promotes financing for MSMEs in Egypt.” an EBRD data showed.

The loan “will also help NBKE in the development and implementation of a credit-scoring model for MSME lending, later useful in the step towards digitalization for NBKE.”