DEBT-

Banque Misr is getting more EBRD financing: The European Bank for Reconstruction and Development (EBRD) is on 31 May scheduled to sign off on a USD 100 mn facility to state-owned Banque Misr for on-lending to local MSMEs, according to the EBRD’s website. “The loan offers a combination of longer-term financing than what is available in the market and promotes financing for MSMEs in Egypt,” the EBRD said. If approved, this would mark the second EBRD on-lending loan Banque Misr has received in as many years, after last year receiving USD 100 mn to finance local SMEs working on green projects.

AUTOMOTIVE-

AAST to launch two models of light EVs over the coming six months: The ArabAcademy for Science, Technology and Maritime Transport (AAST) is working to start rolling out its first locally-made electric cargo transport vehicle next month, Dean of Applied Research at the AAST Mohamed El Ghamry told the state-run MENA news agency. The car aims to replace the widespread three wheeler used to transport various items from fruits and vegetables to furniture. The academy will also introduce passenger EVs over the coming 5-6 months.

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