The National Bank of Egypt (NBE) has signed a $50m financing agreement with the Arab Fund for Economic and Social Development, marking the Fund’s first partnership with Egypt’s private sector. The agreement aims to support micro, small and medium enterprises (MSMEs) and enhance the NBE’s ability to finance entrepreneurs and business owners, with a particular focus on fostering sustainable economic growth, job creation, and financial inclusion—especially in underserved areas.
The agreement was signed by Mohamed El-Etreby, CEO of the National Bank of Egypt, and Bader Al-Saad, Director General and Chairperson of the Arab Fund.
The financing—equivalent to approximately EGP 2.5bn—comes alongside an additional funding package of up to $400m arranged by the European Bank for Reconstruction and Development (EBRD), reflecting the international community’s confidence in the National Bank of Egypt’s developmental role.
Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation, stated that from 2020 to mid-2025, the ministry has successfully secured over $15.6bn in concessional development finance for Egypt’s private sector, through partnerships with regional and international financial institutions. This, she explained, reflects a clear national vision to empower the private sector as a cornerstone of sustainable development by broadening access to concessional finance and deepening cooperation with development finance institutions.
She added that the new partnership with the Arab Fund signals a strategic move to channel greater development financing towards the private sector, in support of national priorities including job creation and women’s economic empowerment.
El-Etreby said the partnership marks a strategic milestone in the bank’s efforts to support the Egyptian economy, bolstering the NBE’s capacity to finance MSMEs and empower entrepreneurs in line with the Central Bank of Egypt’s objectives and Egypt’s Vision 2030 for sustainable development.
He noted that the bank looks forward to expanding cooperation with Arab and international financial institutions to promote inclusive and sustainable development. The new funds will be channelled into projects across both urban and rural areas through the bank’s nationwide network of nearly 700 branches and supported by a diverse package of programmes aimed at strengthening high value-added productive sectors that advance economic diversification.
Bader Al-Saad highlighted that the agreement represents a new direction in the Arab Fund’s strategy, marking an institutional pivot towards private sector financing after decades of focusing solely on the public sector. This shift, he explained, is designed to maximise development impact and deepen partnerships with local institutions capable of effectively deploying funds towards clear developmental objectives.
He emphasised that the private sector is a critical engine of economic growth and job creation, particularly in large and promising economies such as Egypt’s. This agreement with the National Bank of Egypt—one of the country’s most trusted and widely represented banking institutions—underscores the Arab Fund’s commitment to inclusive growth, women’s empowerment, and expanding access to finance for small businesses.
