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National Bank Of Egypt Secures USD 100 Mn Loan From EBRD To Support SMEs
National Bank Of Egypt Secures USD 100 Mn Loan From EBRD To Support SMEs

The National Bank of Egypt (NBE) has received a USD 100 Mn loan from the European Bank for Reconstruction and Development (EBRD) to help the country’s small and medium-sized businesses (SMEs). According to the EBRD, the loan will aid Egypt’s SMEs in terms of energy efficiency, climate change mitigation, and the use of adaption technology.

The NBE will lend the funds to SMEs in the industries of industry, commerce, and agriculture to help enhance the utilization of energy, water, and land resources, as well as investments in high-performing technology, which will help boost the Egyptian economy.

NBE’s partnership with the EBRD, which began in 2013, has included credit and trade finance lines and support for women entrepreneurs and youth-led and-owned firms, as well as energy efficiency improvements.