ERBD provides $600mln for banks in Egypt

European Bank for Reconstruction and Development (EBRD) has provided $600 million for banks operating in Egypt to re-lend, which then will re-lend them to the small and medium sized enterprises, according to Reem El Saady.

The National Program Manager of EBRD Small Business Support (SBS) Program added on the side lines of Canada Egypt Business Council (CEBC) conference on SMEs that ERBD has opened a new branch in Alexandria, while currently preparing to open other one in Suez Canal.

On the other hand, El Saady added that ERBD has established 800 SMEs of which 100 projects were implemented during 2018.

In addition, ERBD provides business advice, training and support for women entrepreneurs and women-led businesses, along preparing special Business programs for women including a programme that allocates $80 million in cooperation with National Bank of Egypt.