EBRD may extend $ 100 mn loan to Banque Misr for MSMEs
According to the EBRD’s website, the European Bank for Reconstruction and Development (EBRD) is slated to sign off on a $100 million loan to state-owned Banque Misr for on-lending to local MSMEs on May 31.
“The loan offers a combination of longer-term financing than what is available in the market and promotes financing for MSMEs in Egypt,” the EBRD said.
If approved, this would mark the second EBRD on-lending loan Banque Misr has received in as many years, after last year receiving $ 100 mn to finance local SMEs working on green projects.
The EBRD has been particularly active in SME lending for green projects, with its green economy financing facility (GEFF), which has been up and running in Egypt since 2017 and has channeled some € 140 mn to green investments by private companies through local banks.
