In a significant step to strengthen private sector growth and expand MSME financing in Egypt, Dr. Rania Al-Mashat, Minister of Planning, witnessed the signing of a $100 million financing agreement between the European Bank for Reconstruction and Development (EBRD) and the National Bank of Egypt (NBE).
The agreement marks the first major milestone during the visit of Mr. Greg Guyett, First Vice President of the EBRD, following his recent appointment. The funding package aims to scale up access to finance for MSMEs and regional companies, particularly projects led by youth and women entrepreneurs.
Strengthening Egypt’s Private Sector Through Concessional Finance
Dr. Al-Mashat emphasized that the agreement reflects Egypt’s commitment to empowering the private sector, expanding investment opportunities, and boosting competitiveness across the economy.
“Empowering the private sector and stimulating investments through concessional financing enhances the competitiveness of the Egyptian economy,” she said.
The Minister highlighted that MSMEs represent a core pillar of sustainable economic growth, job creation, and regional development—making expanded financing essential for resilience and long-term stability.
Supporting Production and Innovation
During the signing, CEO of the National Bank of Egypt, Mohamed El-Etreby, reaffirmed the bank’s commitment to increasing lending for micro, small, and medium-sized enterprises.
“We are committed to increasing financing for projects to strengthen the productive capacities of MSMEs,” El-Etreby stated, underscoring NBE’s role as Egypt’s largest provider of SME financing.
The new financing line will help expand NBE’s ability to support entrepreneurs, strengthen supply chains, and accelerate industrial and commercial activity across Egypt.
Expanding Opportunities for Youth and Women Entrepreneurs
on the other hand, Guyett emphasized that the bank is focused on widening access to finance for MSMEs, which are key drivers of inclusive growth.
“We are working to expand opportunities for micro, small, and medium enterprises, especially youth and women-led businesses,” he said.
Guyett’s visit signals the EBRD’s continued commitment to Egypt as a leading investment destination and strategic partner in the Southern and Eastern Mediterranean region.
Senior Leaders from Both Banks Attend Signing
The agreement was signed by Mohamed El-Etreby, CEO, National Bank of Egypt, and Greg Guyett, First Vice President, EBRD
In attendance were Soha El-Turky, Deputy CEO, NBE, Francis Malige, Managing Director for Financial Institutions, EBRD, and Mark Davis, Regional Director for SEMED, EBRD.
Boost for Entrepreneurship and Economic Inclusion
The $100 million financing agreement is expected to:
- Expand access to capital for MSMEs
- Support job creation, especially for young entrepreneurs
- Facilitate growth of women-led businesses
- Strengthen regional economic development
- Enhance financial inclusion across underserved segments
The partnership aligns with Egypt’s broader strategy to enhance private sector participation and mobilize development financing to support inclusive economic transformation.
