The National Bank of Egypt (NBE) has signed a cooperation protocol with the Micro, Small and Medium Enterprise Development Agency (MSMEDA), aimed at strengthening joint efforts to support and develop the SME sector and entrepreneurship across all governorates.
The signing ceremony was attended by Mohamed El-Etreby, CEO of NBE; Soha El-Turky, Deputy CEO of the bank; Bassel Rahmy, CEO of MSMEDA; along with a number of senior officials from both institutions.
El-Etreby said the protocol builds on the bank’s national role in supporting the Egyptian economy, noting that the SME sector remains a top priority as a key pillar for achieving comprehensive and sustainable development.
He added that the partnership with MSMEDA represents an effective model of integration between financial and development institutions, helping to create a more supportive ecosystem for the growth of SMEs. This, he said, would enhance their contribution to GDP and generate sustainable employment opportunities.
Rahmy said the cooperation reflects growing alignment among national institutions in advancing the SME sector. Through this partnership, MSMEDA aims to expand the scope of both financial and non-financial services offered to entrepreneurs and business owners, improve their access to financing, and support their participation in exhibitions and economic events. These efforts, he noted, will help boost production and facilitate expansion into both local and international markets.
For her part, El-Turky said the memorandum of understanding (MoU) falls within the framework of the bank’s strategy to support SMEs as a key driver of economic growth and job creation. She reaffirmed NBE’s commitment to empowering entrepreneurs and business owners through integrated financing solutions and innovative banking services tailored to various sectors, enabling businesses to scale up and enhance their competitiveness in line with sustainable economic development goals.
Mohamed Medhat, Deputy CEO of MSMEDA, said the agreement represents a significant step towards improving access to finance and integrated services for the agency’s clients. It also contributes to fostering a supportive environment for entrepreneurship that enhances productivity and opens new market opportunities. He added that the move aligns with the state’s broader efforts to drive economic growth and create jobs.
Meanwhile, Nader Saad, Head of SME sector at NBE, described the partnership as a key step towards building an integrated ecosystem for supporting business owners. By combining NBE’s financial and banking expertise with MSMEDA’s technical and developmental services, the initiative is expected to help SMEs expand, generate added value for the national economy, and support a range of priority areas, including export promotion, franchising, women’s economic empowerment, handicrafts, and value chain financing in the food industry and other productive sectors.
He added that the cooperation may also include joint promotional campaigns to promote entrepreneurship and raise awareness of the services offered by both institutions. In addition, the two sides are exploring the installation of NBE ATMs at selected MSMEDA branches to improve accessibility for clients.
