EBRD provides $200m trade financing package to NBE

The European Bank for Reconstruction and Development has agreed to provide a $200 million financing package to National Bank of Egypt (NBE) for trade and for on-lending to companies impacted by the coronavirus pandemic. 

Under the facility, the EBRD will provide a $100 million loan to help NBE provide short-term loans to private small and medium-sized enterprises and firms facing liquidity strains due to a decrease in their activities and turnover caused by the crisis.

In addition, the bank is increasing an existing uncommitted trade finance limit for NBE by $100 million under the EBRD’s Trade Facilitation Programme to reach $300 million, to help meet the increased demand for import and export transactions.