Minister of Planning, Economic Development, and International Cooperation witnesses the signing of a $100 million financing agreement between the European Bank for Reconstruction and Development (EBRD) and the National Bank of Egypt (NBE) to support micro, small, and medium-sized enterprises (MSMEs).

At the outset of the First Vice President of the European Bank for Reconstruction and Development’s visit to Egypt

 

Minister of Planning, Economic Development, and International Cooperation witnesses the signing of a $100 million financing agreement between the European Bank for Reconstruction and Development (EBRD) and the National Bank of Egypt (NBE) to support micro, small, and medium-sized enterprises (MSMEs).

 

Dr. Rania Al-Mashat: Empowering the private sector and stimulating investments through concessional financing to enhance the competitiveness of the Egyptian economy

 

Mr. Mohamed El-Etreby: Committed to increasing financing for projects to strengthen the productive capacities of micro, small, and medium enterprises

 

Mr. Greg Guyett: Working to expand opportunities for micro, small, and medium enterprises, especially women and youth entrepreneurs.

 

H.E. Dr. Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation and Egypt’s Governor at the European Bank for Reconstruction and Development, witnessed the signing of a financing agreement between the European Bank for Reconstruction and Development (EBRD ) and the National Bank of Egypt (NBE), worth $100 million, to finance and develop micro, small, and medium-sized enterprises (MSMEs) and regional companies, particularly women and youth entrepreneurs. This came at the outset of the visit of Mr. Greg Guyett, First Vice President of the European Bank for Reconstruction and Development, to Egypt following his appointment.

 

The agreement was signed by Mr. Mohamed El-Etreby, Chief Executive Officer of the National Bank of Egypt, and Mr. Greg Guyett, First Vice President of the European Bank for Reconstruction and Development, in the presence of Ms. Soha El-Turky, Deputy Chief Executive Officer of the National Bank of Egypt; Mr. Francis Malige, Managing Director for Financial Institutions at the European Bank for Reconstruction and Development; Mr. Mark Davis, the Bank’s Regional Director for the Southern and Eastern Mediterranean Region; and several senior officials of both banks.

 

For her part, H.E. Dr. Rania A. Al-Mashat, Egypt's Minister of Planning, Economic Development & International Cooperation and Egypt's Governor at the EBRD, said:

“Through our partnership with the EBRD and other international institutions, we are advancing private-sector empowerment and mobilizing investment by expanding access to concessional finance for banks and companies. This helps strengthen competitiveness, resilience, and Egypt’s transition toward a private-sector–led, production-driven economic model in line with Egypt’s Narrative for Economic Development. These efforts go hand-in-hand with ongoing economic and structural reforms, including the ceilings on public investments, strengthening  macroeconomic stability, improving business and investment climate, and accelerating the green transition.”

 

H.E. Dr. Al-Mashat reaffirmed the depth of relations between Egypt and the European Bank for Reconstruction and Development, which is a key partner in the Country platform for the “NWFE” program, which has mobilized approximately $5 billion for the private sector to finance renewable energy projects. H.E. explained that cooperation between the European Bank and the banking sector is one of the pillars of this partnership through concessional financing and credit lines. The Ministry, through the Hub for Advisory, Finance & Investment for Enterprises “Hafiz” Platform, to strengthen this partnership between the private sector and international financing institutions to provide more innovative financing for the private sector in Egypt.

 

Al-Mashat explained that enhancing private-sector participation is a key component of Egypt’s reform agenda to achieve private-sector–led growth, adding that the government aims to increase the contribution of the private sector to economic activity.

 

Mr. Greg Guyett, First Vice President of the European Bank for Reconstruction and Development, stated: “This new financing for the National Bank of Egypt marks an important milestone in our long-standing partnership, working to expand opportunities for micro, small, and medium-sized enterprises across the country— especially for women and youth entrepreneurs that drive innovation and inclusive growth. I am confident that this partnership will enable the next generation of entrepreneurs to realize their potential and contribute to a more dynamic and sustainable economy.”

 

For his part, Mr. Mohamed El-Etreby, Chief Executive Officer of the National Bank of Egypt, stated: “Our collaboration with the EBRD continues to deliver meaningful impact for Egypt’s private sector. This new facility allows us to channel vital resources to MSMEs, especially among women and young entrepreneurs who play an essential role in driving economic resilience. At NBE, we are dedicated to expanding access to finance, strengthening productive capacity, and ensuring that inclusive growth reaches every part of the country.” 

 

It is worth noting that relations between Egypt and the Bank have witnessed significant progress over the past five years, as both sides have cooperated at various levels to pave the way for private-sector empowerment and advance development efforts. Egypt is a founding member of the European Bank for Reconstruction and Development (EBRD), and since the start of the Bank’s operations in Egypt in 2012, it has invested more than €13.8 billion in 209 projects in the country, nearly 80% of which have been directed to the private sector. Egypt is also the Bank’s largest country of operations in the Southern and Eastern Mediterranean (SEMED) region in 2024 for the seventh consecutive year.