EBRD, FDA provide USD 15 mn loan to fund green tech for Egyptian SMEs: The European Bank for Reconstruction and Development (EBRD) and the French Development Agency are providing a USD 15 mn loan to support the use of green energy technologies among Egypt’s small and medium-sized businesses, the EBRD said in an emailed statement. The money will be transferred to the Arab African International Bank, and will be used to increase the uptake of technologies such as thermal insulation, solar PV, geothermal heat pumps and water-efficient irrigation systems.

EBRD gives its first microfinance loan in Egypt to EFG’s Tanmeyah: The EBRD is granting EFG Hermes subsidiary Tanmeyah Microenterprise with an EGP-denominated USD 5 mn loan, marking the bank’s first loan in Egypt’s microfinancing segment, according to an EBRD statement. The loan, which will be indexed to the newly-launched no-interest rate benchmark CONIA, comes as part of the EBRD’s Women in Business program to improve Egyptian women-led MSMEs’ access to financing. The loan “will help Tanmeyah to introduce new financial products, modified lending practices and business models that are more inclusive and gender-responsive,” according to the statement. Under the financing agreement, Tanmeyah will also work on implementing a digital transformation strategy.