BdC in talks with EIB to on-lend EUR 90 to Egyptian SMEs

Banque du Caire (BdC) is in talks with the European Investment Bank to open a EUR 90 mn credit line to on-lend to local SMEs, reports the domestic press. State-owned banks, including BdC and the National Bank of Egypt, have been recently borrowing from foreign multilateral development banks to provide loans to SMEs as part of the government’s subsidized lending initiative.