The European Bank for Reconstruction and Development (EBRD) continues to champion the growth of small and medium-sized enterprises (SMEs) in Egypt through a significant financial commitment. EBRD has announced a loan of up to $25 million (€23.2 million) to the Export Development Bank of Egypt (EBank), marking its second financing facility to empower SMEs and private enterprises in the country.
With a focus on Egyptian SME exporters, the financing aims to facilitate EBank’s expansion of services to new small business clients within local and regional markets. By enhancing the availability of financing, the initiative seeks to bolster the competitiveness of Egyptian SMEs while fostering innovation across strategy, products, processes, and marketing related to private-enterprise lending.
Complementing the financial support is a technical cooperation package funded by the EBRD’s southern and eastern Mediterranean (SEMED) multi-donor account. Geared towards SME sub-borrowers specialising in exporting goods, this initiative aligns with EBank’s strategy to develop a market-driven value proposition tailored to exporters’ diverse needs. The package includes tailored lending facilities addressing exporters’ financing requirements pre and post-shipping, as well as advanced business connectivity solutions and consulting services for first-time exporters.
Through the EBRD’s Advice for Small Businesses programme, EBank will provide training sessions, seminars, and access to knowledge channels tailored to small exporters lacking familiarity with applicable rules and regulations specific to exporting goods and services.
The new financing channels targeting SMEs, particularly small exporters, are expected to play a crucial role in supporting Egypt’s economy by bolstering foreign currency inflow and encouraging investment.
The agreement was signed in the presence of EBank’s key executives and EBRD officials, underscoring the commitment of both institutions to fostering economic growth and development in Egypt.
Established in 1983, EBank initially focused on promoting exports and developing Egypt’s agricultural, industrial, trading, and service export sectors. Today, the bank extends its services to corporate, retail, and SME clients, reflecting its evolution in meeting the changing needs of the Egyptian economy.
As a founding member of the EBRD, Egypt has benefited significantly from the Bank’s operations since 2012, with over €11 billion invested through 174 projects in the country.
