Cairo – Mubasher: The European Bank for Reconstruction and Development (EBRD) decided to increase its solidarity assistance package to EUR 4 billion from EUR 1 billion.
Through the funding, EBRD aims to help companies across its regions to mitigate the impact of the coronavirus (COVID-19) outbreak, EBRD’s managing director for southern and eastern Mediterranean region Heike Harmgart said in a statement released by the Egyptian Ministry of International Cooperation on Thursday.
The package includes providing short-term finance through financial institutions, specifically in support of small-and medium-sized enterprises (SMEs).
