$100 million from the European Bank to support small projects in Egypt

Cairo: “Al Khaleej” – The European Bank for Reconstruction and Development signed a financing agreement worth $100 million with the National Bank of Egypt to support small, medium and micro enterprises. The signing was witnessed by Dr. Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation, and Governor of Egypt at the European Bank for Reconstruction and Development. The agreement was signed by Mohamed El-Etreby, CEO of the National Bank of Egypt, and Greg Guyette, First Vice-President of the European Bank for Reconstruction and Development. Dr. stated. Rania Al-Mashat, that the Ministry is working to empower the private sector and stimulate investments by making soft financing available to banks and companies, in a way that increases the competitiveness of the economy.