EBRD promotes green investments in Egypt’s small businesses.

Egypt is a founding member of the EBRD. Since the start of its operations there in 2012, the Bank has invested more than €9.8 billion in 152 projects in the country

The European Bank for Reconstruction and Development (EBRD) is supporting the green economy in Egypt with a US$ 100 million loan to Banque Misr for on-lending to local small and medium-sized enterprises (SMEs).

The loan follows the success of the Green Economy Financing Facility (GEFF) in Egypt and will support an expansion of green lending in Egypt to under-served regions for investments in climate change mitigation and adaptation technologies and services.

A technical assistance programme of €2.3 million funded by the Bank and the Netherlands through the High Impact Partnership on Climate Action (also supported by Austria, Finland, Switzerland, TaiwanICDF and the United Kingdom) will also be provided to Banque Misr and as sub-borrowers to support implementation of the programme, as well as enhance awareness of green financing, particularly among female entrepreneurs.

EBRD Managing Director for SEMED, Heike Harmgart, said: “The EBRD is committed to promoting green investments in the economies where it invests and greening the financial system. This new partnership with Banque Misr builds on our successful cooperation and is in line with our country strategy to promote a green, competitive and inclusive economy.”

Banque Misr was established in 1920 and is the second-largest bank in Egypt. It has been a partner of the EBRD since 2017 when it signed its first small business loan followed by a trade finance facility in 2018 and a US$ 200 million financing package for trade and on-lending to SMEs.

Egypt is a founding member of the EBRD. Since the start of its operations there in 2012 the Bank has invested more than €9.8 billion in 152 projects in the country.