The European Bank for Reconstruction and Development (EBRD) has signed a $100m financing agreement with the National Bank of Egypt (NBE) to support micro, small and medium-sized enterprises (MSMEs), the Egyptian Ministry of Planning said on Monday.
The facility, witnessed by Minister of Planning, Economic Development and International Cooperation Rania Al-Mashat, is designed to develop regional companies with a specific focus on women and youth entrepreneurs.
The agreement was signed by NBE Chief Executive Officer Mohamed El-Etreby and EBRD First Vice President Greg Guyett during Guyett’s first visit to Egypt following his appointment.
“Through our partnership with the EBRD and other international institutions, we are advancing private-sector empowerment and mobilizing investment by expanding access to concessional finance for banks and companies,” Al-Mashat said.
She added that the government aims to increase the private sector’s contribution to economic activity, aligning with reforms to improve the business climate and accelerate the green transition.
Guyett described the financing as an “important milestone” in the partnership between the two banks.
“I am confident that this partnership will enable the next generation of entrepreneurs to realize their potential and contribute to a more dynamic and sustainable economy,” Guyett said.
For the National Bank of Egypt, El-Etreby said the new facility would allow the bank to channel resources to drive economic resilience.
“At NBE, we are dedicated to expanding access to finance, strengthening productive capacity, and ensuring that inclusive growth reaches every part of the country,” El-Etreby said.
Since commencing operations in Egypt in 2012, the EBRD has invested more than €13.8bn in 209 projects, with nearly 80% directed to the private sector. Egypt remains the bank’s largest country of operations in the Southern and Eastern Mediterranean region for 2024.
