EIB and Banque Misr partner to support SMEs

EIB and Banque Misr partner to support SMEs

The European Investment Bank (EIB) and Banque Misr partnered to further strengthen their support for SME lending and increase financing for companies in sectors most impacted by the COVID 19 pandemic. This will be done through two new technical assistance programs.

The first technical assistance programme will further strengthen credit risk management and adoption of SME financing best practices to enable Banque Misr to increase financing for smaller companies.

The second initiative will enable Banque Misr to better identify bankable sustainable private sector investment projects and develop new financial products targeted for SMEs. This will enhance support for sectors most impacted by the COVID-19 pandemic and is part of the EU Trade and Competitiveness Programme.

“Banque Misr and the European Investment Bank are supporting transformational private sector investment by Egyptian companies across the country. It is an honour to welcome Vice President Vigliotti and the EIB team to Banque MIsr headquarters. The two new technical assistance programmes agreed today will enable even stronger support for business investment and enable smaller companies to growth, create jobs and harness new business opportunities,” Akef El Maghraby, Banque Misr Vice Chairman, said.

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