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European Bank for Reconstruction and Development Provides USD 200 Million to Support Egypt’s Trade

As the Coronvairus continues to affect businesses around the world, the European Bank for Reconstructions and Development (EBRD) is providing a financing package worth USD 200 million to support Egypt’s SMEs and trade demands.

To help Egypt’s economy pull through the COVID-19 crisis, the European Bank for Reconstruction and Development (EBRD) is providing a USD 200 million financing package to Banque Misr.

The financing package includes a USD 100 million for the bank to provide short-term financing to private businesses (specifically, Small and Medium Enterprises) dealing with the financial strains of the Coronavirus crisis. The remaining USD 100 million will be used by Banque Misr – under EBRD’s Trade Facilitation Programme (TFP) - to support the escalating demand for both import and export transactions.

This falls under the EBRD’s Coronavirus Solidarity Package, which was set up to provide private businesses with short-term financing through EBRD partner banks.

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