Back to the complete issue
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.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2021 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of Commercial International Bank (tax ID: 204-891-949), the largest private-sector bank in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; and Act Financial (tax ID: 493-924-612), the leading activist investor in Egypt; and Abu Auf (tax ID: 584-628-846), the leading health foodmaker in Egypt and the region.