Another EBRD loan to NBK Egypt? The European Bank of Reconstruction and Development (EBRD) is considering providing a USD 40 mn senior unsecured loan to the National Bank of Kuwait Egypt (NBK Egypt) for on-lending to micro, small and medium-sized businesses, according to the lender’s website.

A senior loan? A senior bank loan is money lent to a business by a financial institution which is then repackaged and sold to other investors.

It’s all for MSMEs: The financing would “support NBK Egypt's lending activities and expand access to finance for the underserved MSME segment,” the bank said.

What’s next: The lender is set to approve the loan on 7 September.

This isn’t the first time that NBK Egypt has sought EBRD help: The bank has agreed several rounds of financing with the European lender since 2015, mostly recently a USD 100 mn loan in 2020 to support private sector firms through the pandemic and USD 25 mn last year to fund green energy projects.

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