EBRD official: Financing is major challenge for MSMEs

31 / 10 / 2022

By Marwa Nassar - -

Reem El Saady, National Program Manager of Small Business Support of the European Bank for Reconstruction and Development (EBRD), said financing is the major challenge facing micro, small and medium-sized (MSMEs).

She made the remarks on Monday during a session – under the theme of available financing programs for SMEs – that was held within the framework of the first Egypt Business Solutions Summit.

Saady added that there is an urgent need to solve the problem of the long time needed for getting finance.

She also called for spreading awareness among entrepreneurs about means of getting needed finance as fast as possible.

Saady underlined the importance of sensitizing entrepreneurs to all banking products for supporting owners of small and medium-sized enterprises.

She underlined the importance of having a consultancy service for entrepreuners.

She expounded that an entrepreneur should know how to get needed support through a consultant so that his request would not be turned down.