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Thursday, 22 December 2016

EBRD partners with AlexBank to support SMEs with USD 100 mn financing package

The European Bank for Reconstruction and Development (EBRD) announced it is partnering with Bank of Alexandria (AlexBank) to support SME activity in Egypt with a USD 100 mn financing package. USD 50 mn will be used for on-lending to local SMEs and another USD 50 mn will be extended by the EBRD to AlexBank under its Trade Facilitation Programme. The EBRD is also extending AlexBank EUR 550,000 to enhance the skillsets and competitiveness of Egyptian enterprises by providing them with dedicated training and workshops, as well as forums with technical assistance focusing on improving existing processes, products, customer experience and technical expertise at the bank.

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