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Tuesday, 17 December 2019

EBRD to support green SME projects with USD 150 mn loan

EBRD to support SMEs with USD 150 mn loan: The National Bank of Egypt will be receiving a USD 150 mn loan from the European Bank for Reconstruction and Development (EBRD) to onlend to SMEs, the EBRD said in a statement. The proceeds will allow NBE to open a USD 100 mn credit line to help Egyptian SMEs participate in energy efficiency and climate projects, which we noted last week, and a USD 50 mn line to launch two new training program within SMEs: the Youth in Business and the Skills in Business programs.

Corrected on 9 February 2020

An earlier version of this story incorrectly said that SMEs engaged in green projects will benefit from the full USD 150 mn loan. Green SMEs will only have access to USD 100 mn. The remainder will be channeled into the two new EBRD programs noted above.

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