The European Investment Bank (EIB) could provide Banque Misr with as much as EUR 750 mn for on-lending to SMEs, according to the bank’s website. The loans would be provided to SMEs impacted by the covid-19 pandemic to finance working capital. The EIB signed off in July on a combined EUR 1.9 bn in financing for Egypt, which included EUR 800 mn for “covid-19 related business investment” and another EUR 1.1 bn for public transport infrastructure development across the country. The European Bank for Reconstruction and Development extended last week a USD 100 mn facility to the state-owned bank for on-lending to SMEs.

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