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Sunday, 6 September 2020

NBE signs EUR 800 mn agreement with EIB for SME financing

DEBT WATCH- NBE signs EUR 800 mn agreement with EIB for SME financing: The National Bank of Egypt has signed a EUR 800 mn financing agreement with the European Investment Bank (EIB) to fund SMEs that have been impacted by covid-19, International Cooperation Minister Rania Al Mashat announced, according to a cabinet statement. The EIB funding comes as part of a larger EUR 1.9 bn financing package agreed to earlier this year that has seen the bank designate EUR 1.1 bn in loans towards public transportation infrastructure and the remaining EUR 800 mn in finance to help SMEs weather the impact of covid-19.

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