Egypt has signed a new $100 million financing agreement with the European Bank for Reconstruction and Development (EBRD) to expand support for micro, small and medium-sized enterprises (MSMEs), with a particular focus on women and youth-led businesses. The signing took place at the start of the visit of Greg Guyett, the EBRD’s First Vice President, marking his first official trip to Egypt following his appointment.
The agreement was signed by Mohamed El-Etreby, Chief Executive Officer of the National Bank of Egypt (NBE), and Greg Guyett, in the presence of senior officials from both institutions, including Soha El-Turky, NBE Deputy CEO, and Francis Malige, EBRD Managing Director for Financial Institutions.
Egypt’s Minister of Planning, Economic Development, and International Cooperation, Dr. Rania Al-Mashat, who attended the signing in her capacity as Egypt’s Governor at the EBRD, said the partnership reinforces ongoing efforts to widen access to concessional finance and drive private-sector-led growth. “Through our partnership with the EBRD and other international institutions, we are advancing private-sector empowerment and mobilizing investment by expanding access to concessional finance for banks and companies…” she said, highlighting reforms aimed at strengthening macroeconomic stability and improving the investment climate.
Dr. Al-Mashat emphasised the long-standing cooperation between Egypt and the EBRD, noting the Bank’s central role in the “NWFE” programme, which has mobilised around $5 billion for renewable energy investment. She also pointed to the Ministry’s efforts through the Hafiz platform to deepen partnerships between international financial institutions and the private sector.
Guyett described the new agreement as a continuation of the strong relationship between both sides. “This new financing for the National Bank of Egypt marks an important milestone in our long-standing partnership… especially for women and youth entrepreneurs that drive innovation and inclusive growth.”
El-Etreby said the facility will provide essential financial resources to help expand productive capacity across the country. “This new facility allows us to channel vital resources to MSMEs, especially among women and young entrepreneurs who play an essential role in driving economic resilience.”
The Ministry noted that Egypt’s engagement with the EBRD has grown substantially over the past five years. Since operations began in Egypt in 2012, the Bank has invested more than €13.8 billion across 209 projects, nearly 80% of which have been directed to the private sector. Egypt also remained the EBRD’s largest country of operations in the Southern and Eastern Mediterranean region in 2024 for the seventh year running.
