By: Eslam Fadl

Cairo – Mubasher: The European Bank for Reconstruction and Development (EBRD) has financed small- and medium-sized enterprises (SMEs) in Egypt with $600 million through local lenders, the EBRD’s regional principle manager said.

The bank has opened a branch in Alexandria and is currently working on opening a new office in Suez, Reem El Saady added on the sidelines of Canada Egypt Business Council’s (CEBC) conference.

The EBRD has implemented 800 SMEs, including 100 projects in 2018, El Saady indicated.

She further noted that the EBRD is preparing programmes dedicated for women, including an $80 million programme in coordination with the National Bank of Egypt (NBE).

Translated by: Mai Ezz El-Din