Egyptian financial services group EFG Holding has secured a $40M, four-year senior unsecured loan from the European Bank for Reconstruction and Development (EBRD) to expand financing for micro, small and medium-sized enterprises (MSMEs) across Egypt.
The facility will be channelled through eligible non-bank financial institution subsidiaries, supporting lending across customer segments and geographies. According to the announcement, the financing will help address businesses’ liquidity and working-capital needs, with a focus on improving access in underserved regions and outside Egypt’s major cities. The loan includes a one-year grace period.
The transaction is EBRD’s first facility extended directly to EFG Holding at the holding-company level. The bank has previously provided financing to group subsidiaries including Bank NXT, Tanmeyah and Valu.
EFG Holding said the facility will provide stable, medium-term funding for the growth of its MSME portfolio while diversifying the group’s funding sources. The financing is intended to support businesses as they invest, expand and create jobs.
The agreement was signed on the sidelines of EFG Hermes’ 12th Annual London Investor Conference, which brings together institutional investors, listed companies and capital-market participants focused on opportunities across the MENA region.
Source: Waya Media
