The financing package also includes 2 senior unsecured loans of up to $15 million; one of which will be provided under the Women in Business (WIB) Program
Partnering with the Export Development Bank of Egypt (EBank) for the first time, the European Bank for Reconstruction and Development (EBRD) is providing the bank with a financing package worth $25 million with the aim of supporting Egyptian small and medium-sized enterprises (SMEs).
According to a statement, the package includes an uncommitted multi-currency Trade and Facilitation Program limit of up to US$ 10 million. The TFP limit will help with the issuance of guarantees in favor of confirming banks to support trade finance instruments issued by EBank and to provide cash advances to fund trade-related loans to private companies for pre-export, post-import financing and the distribution of imported goods.
The financing package also includes 2 senior unsecured loans of up to $15 million; one of which will be provided under the Women in Business (WIB) Program, which will assist the EBank in lending to women-led SMEs in Egypt, this is worth $5 million.
Under the WIB program, female entrepreneurs will be provided from advisory services and know-how through the EBRD’s Advice for Small Businesses program.
As part of the WIB loan, the European Union Initiative for Financial Inclusion Program will provide funding for risk sharing.
