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The European Bank for Reconstruction and Development (EBRD) announced a new loan of $100 million to the National Bank of Egypt (NBE) to be used for on-lending private Egyptian micro, small and medium size enterprises (MSMEs).
“Half the funds will be specifically channelled to women led and/or owned and young entrepreneurs led and/or owned enterprises, particularly underserved in Egypt,” EBRD’s statement said.
The project will contribute to the Inclusive Transition Impact (TI) quality, as the proceeds of the loan will be on-lent with a specific regional angle, and with a focus on women and young entrepreneurs.
