The financing is dedicated to supporting the development of Micro, Small, and Medium Enterprises (MSMEs) and regional companies, with a special focus on projects led by women and youth.
The agreement was signed by NBE CEO Mohamed El-Etreby and
EBRD First Vice President Grzegorz Jajac, during the latter’s first visit to
Egypt since assuming his new role.
Minister Al-Mashat stated that the partnership aims to
empower the private sector and stimulate investment by providing concessional
financing to banks and companies, enhancing the economy’s competitiveness,
resilience, and move toward a private sector-led, production-based economic
model.
She highlighted the deep relationship with the EBRD, noting
its key role in the national "NWFE" program, which has mobilized
nearly $5 billion in private sector financing for renewable energy projects.
EBRD First Vice President Jajac emphasized that the new
financing marks a significant milestone in their long-term partnership with
NBE. He noted the funds will "expand opportunities for MSMEs across the
country—especially for women- and youth-led businesses that drive innovation
and inclusive growth."
NBE CEO El-Etreby echoed this sentiment, stating the facility
allows the bank to channel vital resources to MSMEs, particularly female
entrepreneurs and young people, who are essential for boosting the economy’s
resilience.
Since beginning its operations in Egypt in 2012, the EBRD has invested over €13.8 billion in 209 projects, with approximately 80% dedicated to the private sector. Egypt has been the Bank’s largest country of operation in the Southern and Eastern Mediterranean (SEMED) region for the seventh consecutive year.