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EBRD extends $ 100m loan to NBE to back SMEs in Egypt
The European Bank for Reconstruction and Development (EBRD) extended a $ 100 million loan the National Bank of Egypt (NBE) to support small and medium-sized enterprises, especially in the fields of energy efficiency, climate change mitigation and the introduction of adaptation technologies.
NBE will on-lend the funds to SMEs in industry, commerce, and agriculture to help improve the use of energy, water and land resources, as well as investments in high-performing technologies, to support the Egyptian economy. Businesses can identify typical green technologies available in Egypt through the Green Economy Financing Facility (GEFF) Technology Selector.
This is the third EBRD GEFF loan provided to NBE, which will also benefit from a comprehensive technical cooperation program. As part of the project, NBE will strengthen climate corporate governance at an institutional level.
NBE is the largest commercial bank in Egypt. Its cooperation with the EBRD, which began in 2013, has included credit and trade finance lines, also to support women entrepreneurs and youth-led and -owned businesses and to strengthen energy efficiency.
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