{"id":55447,"date":"2020-05-12T01:42:54","date_gmt":"2020-05-11T23:42:54","guid":{"rendered":"https:\/\/www.csregypt.com\/?p=55447"},"modified":"2020-05-12T01:42:54","modified_gmt":"2020-05-11T23:42:54","slug":"ebrd-provides-1st-solidarity-package-investment-to-egypt","status":"publish","type":"post","link":"https:\/\/csregypt.com\/en\/ebrd-provides-1st-solidarity-package-investment-to-egypt\/","title":{"rendered":"EBRD provides 1st solidarity package investment to Egypt"},"content":{"rendered":"

The European Bank for Reconstruction and Development (EBRD) extends its first investment to Egypt under the bank\u2019s coronavirus Solidarity Package to support small and medium sized enterprises (SMEs). The measure falls within the framework of mitigating the economic fallout of the\u00a0coronavirus pandemic<\/a>\u00a0in\u00a0Egypt<\/a>.<\/p>\n

The EBRD is providing a $100 million senior loan to buttress small and medium-sized enterprises that are experiencing a decrease in their activities, turnover and\/or profitability. Small businesses form an important segment of the Egyptian economy and supporting them in these challenging times remains a priority for the EBRD.<\/p>\n

In addition, the bank is increasing an existing uncommitted trade finance limit by $ 100 million under the EBRD\u2019s Trade Facilitation Program to reach US$ 250 million, to help meet the increased demand for import and export transactions.<\/p>\n

Heike Harmgart, EBRD Managing Director for the southern and eastern Mediterranean region, commented: \u201cWe are very proud to roll out our swift support to the Egyptian economy. This financial package is key for the resilience of local Egyptian businesses \u2013 it will provide much-needed funding to SMEs, large enterprises and trade companies in this global crisis.\u201d<\/p>\n

The coronavirus pandemic and its economic impact present an unprecedented challenge to the regions where the EBRD invests. The bank has rapidly stepped up its support with a response and recovery\u00a0program<\/a>\u00a0to help the 38 emerging economies where it invests.<\/p>\n

The EBRD expects to dedicate the entirety of its activities to combating the economic impact of the crisis and stands ready to provide support worth \u20ac21 billion over the period 2020-21.<\/p>\n

Egypt is a founding member of the EBRD. Since the start of its operations there in 2012, the Bank has invested over \u20ac6 billion in 115 projects in the country.<\/p>\n

\n","protected":false},"excerpt":{"rendered":"

The European Bank for Reconstruction and Development (EBRD) extends its first investment to Egypt under the bank\u2019s coronavirus Solidarity Package to support small and medium sized enterprises (SMEs). The measure falls within the framework of mitigating the economic fallout of the\u00a0coronavirus pandemic\u00a0in\u00a0Egypt. The EBRD is providing a $100 million senior loan to buttress small and […]<\/p>\n","protected":false},"author":410,"featured_media":55460,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[984,6095],"tags":[6087,6463,6370],"yoast_head":"\nEBRD provides 1st solidarity package investment to Egypt - Csr Egypt<\/title>\n<meta name=\"description\" content=\"The (EBRD) extends its first investment to Egypt under the bank\u2019s coronavirus Solidarity Package to support small and medium sized enterprises (SMEs).\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/csregypt.com\/en\/ebrd-provides-1st-solidarity-package-investment-to-egypt\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EBRD provides 1st solidarity package investment to Egypt - 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