The National Bank of Egypt (NBE), the country’s largest and oldest financial institution, has signed a landmark cooperation protocol with Plan International Egypt, marking the launch of a strategic partnership aimed at bolstering the small, medium, and microenterprise (SME) sector—widely recognized as a cornerstone of the Egyptian economy and a primary engine of job creation and inclusive growth.
The agreement underscores NBE’s enduring commitment to Egypt’s Vision 2030 and the Sustainable Development Goals (SDGs) by expanding access to finance and entrepreneurial support services for underserved segments, particularly women, youth, and artisans in various governorates.
A Milestone for Inclusive Economic Development
Soha al-Turki, Deputy CEO of NBE, hailed the partnership as a pivotal milestone in the bank’s strategy to foster financial inclusion and economic empowerment. She emphasized that the collaboration will deliver a holistic package of financial and non-financial solutions tailored to the needs of vulnerable communities.
The protocol aligns closely with NBE’s leadership role in national economic development, promoting grassroots entrepreneurship and enabling local enterprises to thrive in competitive markets.
Empowering Communities Through Innovation and Training
From Plan International’s side, Rozan Khalifa, Country Director of Plan International Egypt, expressed strong enthusiasm for the partnership, calling it an example of effective synergy between the private banking sector and international development organizations.
The initiative is expected to drive meaningful change in rural and urban communities alike by supporting income-generating projects, promoting entrepreneurial innovation, and fostering sustainable business practices.
Tailored Solutions for Egypt’s Growing SME Sector
Emad Farag, Head of the SME Group at NBE, emphasized that the protocol will deliver targeted support to microenterprises and startups, with a strong focus on financial product innovation, capacity building, and market access.
“Through this cooperation, beneficiaries will gain access to customized financing solutions, consultancy services, and non-financial support designed to accelerate growth and enhance operational efficiency. We’re also introducing new banking channels to integrate small businesses more effectively into the formal economy,” Farag explained.
This approach not only supports business sustainability but also reinforces Egypt’s broader economic ambitions by nurturing a dynamic, innovation-driven SME ecosystem.
A Model for Public-Private Collaboration
The NBE–Plan International agreement sets a new benchmark for public-private partnerships in Egypt’s development landscape. By integrating banking expertise with community-based development strategies, the initiative aims to unlock new economic opportunities and reduce inequalities across sectors.
With SMEs constituting over 90% of active businesses in Egypt and contributing significantly to GDP and employment, initiatives like this are crucial to addressing structural challenges and building a more resilient, inclusive economy.
