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Sunday, 21 April 2019

World Bank gives final approval for USD 200 mn SME loan

The World Bank has given final approval to a USD 200 mn loan to support entrepreneurship and SMEs in Egypt, the Investment and International Cooperation Ministry said in a statement. Egypt agreed on the loan with the World Bank during the IMF and World Bank Spring Meetings earlier this month. The funding includes “USD 145 mn mainly through non-bank financial institutions offering loans to small businesses,” the World Bank said in a statement.

Look for more money flowing into the venture capital world, too: The facility includes USD 50 mn earmarked for angel funds and venture capital funds, among others.

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