By: Islam Fadl
Cairo – Mubasher: The European Bank for Reconstruction and Development (EBRD) has signed a funding agreement worth $5 million with Tanmeyah Microenterprise Services.
This funding is in line with EBRD’s efforts to support micro-, small-, and medium-sized enterprises (MSMEs) led by women, the bank said during a press conference on Monday.
The loan will be provided in local currency and indexed to Cairo overnight interbank average (CONIA), the risk-free rate newly developed by the Egyptian Money Market Contact Group.
Since the beginning of its operations in the North African nation in 2012, EBRD has invested more than EUR 5 billion in 99 projects.
In 2018, Egypt received the largest new commitments from EBRD.
