{"id":321549,"date":"2021-03-18T12:17:26","date_gmt":"2021-03-18T12:17:26","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=321549"},"modified":"2021-03-18T12:17:26","modified_gmt":"2021-03-18T12:17:26","slug":"ebrd-approves-100mln-financing-package-to-banque-du-caire-for-egyptian-private-sector","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2021\/03\/18\/ebrd-approves-100mln-financing-package-to-banque-du-caire-for-egyptian-private-sector\/","title":{"rendered":"EBRD approves $100mln financing package to Banque Du Caire for Egyptian private sector"},"content":{"rendered":"

Banque du Caire received \u00a0US$ 100 million financing package \u00a0from The European Bank for Reconstruction and Development (EBRD)<\/a> for trade financing and on-lending to local micro-, small and medium-sized companies (MSMEs).<\/p>\n

EBRD is supporting the Egyptian economy, the bank added in a statement.<\/p>\n

Under the facility, the EBRD will provide a US$ 50 million loan to help Banque du Caire increase the amount of funding it makes available to Egypt\u2019s MSMEs, which remain an underserved segment of the real economy.<\/p>\n

The funds will also support Banque du Caire in expanding its MSME lending outside the Greater Cairo region.<\/p>\n

The EBRD is also extending a US$ 50 million trade finance limit under the EBRD\u2019s Trade Facilitation Programme, which will be used to issue guarantees to confirming banks and provide cash advances to fund pre-export and post-import trade-related loans to local private-sector companies and for local distribution.<\/p>\n

\u201cThe agreements signed today mark the start of a new strategic partnership between our two institutions,\u201d said Heike Harmgart, EBRD Managing Director for the Southern and Eastern Mediterranean. \u201cWe are very pleased to further support trade and small businesses throughout the country with this new financing package to Banque du Caire.\u201d<\/p>\n

Banque du Caire Chair and CEO Tarek Fayed expressed his pride in the bank\u2019s partnership with the EBRD, a reflection of the confidence of international financial institutions in Banque du Caire\u2019s financial indicators and future vision, as well as the bank’s pioneering role in supporting MSMEs, a top priority in its strategy and expansion plans.<\/p>\n

Egypt is a founding member of the EBRD. Since the start of its operations there in 2012, the Bank has invested close to \u20ac7.2 billion in 127 projects in the country.<\/p>\n","protected":false},"excerpt":{"rendered":"

Banque du Caire received \u00a0US$ 100 million financing package \u00a0from The European Bank for Reconstruction and Development (EBRD) for trade financing and on-lending to local micro-, small and medium-sized companies (MSMEs).<\/p>\n","protected":false},"author":4,"featured_media":320964,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[24,33],"tags":[131,178],"class_list":["post-321549","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development-partners","category-main","tag-banque-du-caire","tag-ebrd"],"yoast_head":"\nEBRD approves $100mln financing package to Banque Du Caire for Egyptian private sector - egy-africa<\/title>\n<meta name=\"description\" content=\"Banque du Caire received \u00a0US$ 100 million financing package \u00a0from The European Bank for Reconstruction and Development (EBRD) for trade financing and on-lending to local micro-, small and medium-sized companies (MSMEs)\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/egy-africa.com\/en\/2021\/03\/18\/ebrd-approves-100mln-financing-package-to-banque-du-caire-for-egyptian-private-sector\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EBRD approves $100mln financing package to Banque Du Caire for Egyptian private sector - 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