The National Bank of Egypt (NBE) has signed a cooperation protocol with Plan International Egypt to launch a comprehensive partnership aimed at supporting and developing the small, medium, and microenterprise (SME) sector. Widely recognised as one of the main pillars of the national economy, this sector is among the most significant drivers of growth and job creation. The agreement represents a new step underscoring NBE’s leadership in advancing Egypt’s economic and social development agenda.
Soha al-Turki, Deputy CEO of NBE, described the partnership as an important milestone in empowering vulnerable groups, particularly youth and women, by enabling them to participate more actively in the formal economy. She noted that the initiative will provide a comprehensive package of financial and non-financial solutions, in line with the bank’s financial inclusion strategy and its commitment to achieving the Sustainable Development Goals and Egypt’s Vision 2030.
Al-Turki added that the protocol reflects NBE’s determination to strengthen the national economy by empowering SMEs and microenterprises. She highlighted that the partnership with Plan International represents a leading example of collaboration between the banking sector and international development institutions.
Rozan Khalifa, Country Director of Plan International Egypt, expressed pride in cooperating with the National Bank of Egypt, the country’s largest financial institution. She explained that the partnership will focus on designing and implementing integrated development interventions to support entrepreneurship and income-generating projects. It will also introduce specialised training and awareness programmes to promote economic empowerment, in addition to producing detailed studies and reports to assess the realities and needs of small enterprises in targeted communities.
Emad Farag, Head of the SME Group at NBE, said that under this protocol, young people, women, and artisans across various governorates will benefit from tailored financing and training programmes, as well as innovative financial products designed to meet the specific needs of SMEs and microenterprises. He added that the initiative will promote entrepreneurship and innovation by nurturing new ideas and transforming them into sustainable, competitive projects.
Farag further noted that the protocol will provide non-financial services such as consultancy and training to accelerate the growth of enterprises and enhance efficiency. The partnership also aims to expand the use of diversified banking channels to facilitate the integration of small businesses into the formal economy, thereby ensuring their long-term sustainability and contribution to Egypt’s broader development goals.
