Egypt handed total of €784 mn in credit lines for private sector, SMEs in 2020 amid pandemic

SourceAhram
SectorFinancial Markets
CountryEgypt

To date, the EBRD has invested more than €7 billion in 125 projects in Egypt, where the bank’s areas of investment include the financial sector, agribusiness, manufacturing and services, as well as infrastructure projects Doaa A.Moneim , Thursday 14 Jan 2021 he headquarters of the European Bank for Reconstruction and Development (EBRD) in London, November 22, Britain 2016. FP REUTERS The European Bank for Reconstruction and Development (EBRD) handed €784 million in 2020 in liquidity lines to local banks for on-lending to businesses in the private sector, especially small and medium-sized enterprises in 2020, driven by the COVID-19 pandemic and its related impacts. This came within the EBRD’s annual results announced on Thursday. The EBRD’s investments in the southern and eastern Mediterranean region, where Egypt is located, rose to €2.13 billion in 2020, up from €1.85 billion in 2019, out of a record €11 billion invested in 2020 through 411 projects in the 38 economies — across different regions — where it invests in response to the COVID-19 crisis. This represents a 10 percent increase in annual business investment, compared to 2019, when the bank ...read more...