EBRD earmarks EUR300 million for SME financing in Egypt
The European Bank for Reconstruction and Development (EBRD) has earmarked EUR300 million in financing to support Egyptian SMEs this year, according to Philip ter Woort, Director of the EBRD in Egypt. These funds will be channeled to around 320 businesses through the National Bank of Egypt, National Bank of Kuwait, and Qatar National Bank. Ter Woort said 39% of private sector businesses have no access to bank financing. (Al Shorouk, Enterprise)
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