CIB could soon receive a USD 20 mn loan from the European Bank for Reconstruction and Development (EBRD) for on-lending to local women-led SMEs, according to the EBRD’s website. The loan has passed a final review and is now pending approval from the European lender, which is expected to make a decision by 9 June.

This is not the first loan of its kind CIB has received from the EBRD: The lender responded to the covid-19 pandemic by providing the bank a USD 100 mn loan for emergency on-lending to SMEs. It issued similar loans to the National Bank of Egypt and the National Bank of Kuwait Egypt.

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