The European Bank for Reconstruction and Development (EBRD) and the EU celebrated the conclusion of the 500th advisory project for small businesses in Egypt under the Bank’s EU-funded Advice for Small Business Program. “SMEs are a priority for the EBRD in Egypt as they are the largest job creators in the country. Up to 90 percent of all employment opportunities come from this part of the economy and this is especially important to reduce youth unemployment. Many small businesses are also run by women and support for these enterprises is crucial,” EBRD Managing Director for SEMED Janet Heckman said. SMEs represent only 5% of Egyptian banks’ lending portfolios, despite the fact that they makeup about 90% of projects in the country, the Deputy Head of the EU delegation to Egypt Reinhold Brender said on Thursday.