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EBRD earmarks $1.9bn to Egypt’s SMEs

EBRD earmarks $1.9bn to Egypt’s SMEs
Egyptian minister of international cooperation Sahar Nasr - (Photo Credit: Ministry Website)

Cairo – Mubasher: The finance portfolio for Egypt at the European Bank for Reconstruction and Development’s (EBRD) amounts to EUR 1.7 billion ($1.87 billion), the Egyptian minister of international cooperation Sahar Nasr said in a press release on Tuesday.

Nasr said that she presented the projects that the bank plans to finance, adding that by 2017, Egypt is expected to be the second largest country which runs the bank’s operations in the region.

The Egyptian government agreed with the EBRD to support the private sector and finance small and medium enterprises (SMEs).