EBRD boosts Egyptian private enterprises and trade
The European Bank for Reconstruction and Development is supporting the Egyptian economy with a $100 million financing package to Banque du Caire for trade financing and on-lending to local MSMEs.
Under the facility, the EBRD will provide a $50 million loan to help Banque du Caire increase the amount of funding it makes available to Egypt’s MSMEs. The funds will also support Banque du Caire in expanding its MSME lending outside the Greater Cairo region.
The EBRD is also extending a $50 million trade finance limit under its Trade Facilitation Programme, which will be used to issue guarantees to confirming banks and provide cash advances to fund pre-export and post-import trade-related loans to local private-sector companies and for local distribution.
