The European Bank for Reconstruction and Development (EBRD) is stepping up its support for small and medium-sized enterprises (SMEs) in Egypt with a financing package worth $25m for the Export Development Bank of Egypt (EBank).

The EBRD is partnering with the EBank for the first time. It will provide a financing package of an uncommitted multi-currency Trade and Facilitation Programme (TFP) limit of up to $10m. The TFP limit will help with the issuance of guarantees in favour of confirming banks to support trade finance instruments issued by EBank and to provide cash advances to fund trade-related loans to private companies for pre-export, post-import financing and the distribution of imported goods.