by: Céline Dominique Nadler | May 23, 2024
The European Bank for Reconstruction and Development (EBRD) is extending an preliminary A/B mortgage of $119.5 million to the National Bank of Egypt (NBE), for loans to micro, small and medium-sized enterprises (MSMEs) in Egypt.
We study this from a press launch from the European Bank, in line with which this primary portion, which features a mortgage B mobilized by the Ilx Fund, an asset supervisor primarily based within the Netherlands, is a part of a broader financing program that may very well be applied as well as phases. This is the primary mortgage with an A/B construction granted to an Egyptian financial institution.
EBRD financing beneath this lending facility is anticipated to assist mobilize personal sector financing wanted for financial improvement, whereas diversifying the NBE’s financing base and supporting its monetary inclusion agenda. This credit score line will goal companies with a regional focus owned or led by ladies or youth.
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