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Thursday, 12 September 2019

EBRD, Sawiris Foundation team up to develop Egyptian SMEs

EBRD and SFSD team up to develop Egyptian SMEs: The European Bank for Reconstruction and Development (EBRD) and the Sawiris Foundation for Social Development (SFSD) are partnering up to support the development and expansion of SMEs in Egypt, focusing on those of young people and women, according to an EBRD statement (pdf).

Training programs for youth, business development services for women: Training programs will be provided to improve the entrepreneurial skills of women and young entrepreneurs who have start-ups. Women entrepreneurs will also be given exclusive access to non-financial business development services, including coaching and mentoring support and the ability to use the yet-to-be-launched Women in Business online networking platform.

EBRD to also help NGOs with similar goals: The bank will also lend a hand to NGOs who work with women entrepreneurs, providing them with diagnostic skills workshops to better identify the needs of small businesses and their areas of improvement. This part of the program will use their automated management tool, Business Lens.

In other EBRD news, Transport Minister Kamel El Wazir discussed new investment prospects for the bank in the sector in a meeting yesterday with a delegation from the bank’s board of directors, according to an official statement. The meeting also reviewed ongoing projects in the sector the EBRD is financing, including the 6 October-new capital monorail.

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