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Tuesday, 23 June 2020

EBRD confirms it’s lending the National Bank of Egypt USD 100 mn for SMEs

EBRD confirms it’s lending the National Bank of Egypt USD 100 mn for SMEs: The European Bank for Reconstruction and Development (EBRD) confirmed yesterday it is providing the National Bank of Egypt (NBE) a USD 100 mn loan for on-lending to SMEs impacted by covid-19, which NBE Deputy Chairman Yehia Aboul Fotouh had announced last week. The EBRD also agreed to a separate USD 100 mn increase to its uncommitted trade finance limit for NBE under its Trade Facilitation Program to support import and export transactions. The limit is now at USD 300 mn.

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