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Sunday, 1 November 2020

Banque du Caire could receive USD 50 mn EBRD loan to on-lend to small businesses

DEBT WATCH- BdC could be getting USD 50 mn EBRD loan to on-lend to small businesses: The European Bank for Reconstruction and Development (EBRD) could provide Banque du Caire with a loan of up to USD 50 mn to on-lend to private sector MSMEs, according to the bank’s website. The loan would increase the availability of finance to MSMEs and allow for greater access to finance for the “largely underserved segment.” The EBRD has ramped up its SME financing operations through Egyptian banks since the beginning of the pandemic, which managing director for the SEMED region Heike Harmgart told us was key to channelling liquidity to cash-starved firms. The bank has already invested some EUR 1.15 bn in Egypt in 9M2020, Egypt Deputy Director Khaled Hamza told Masrawy.

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