EBRD to provide $10M loans to Tanmeyah for MSMEs
Updated 2/1/2024 8:02:00 AM
Arab Finance: The European Bank for Reconstruction and Development (EBRD) will provide Tanmeyah Micro Enterprise Services, a subsidiary of EFG Holding, with two loans worth a total of $10 million, $5 million each, the bank stated.
The first loan aims to expand Tanmeyah’s lending to micro, small, and medium-sized enterprises (MSMEs), with a special focus on the underserved segments.
Tanmeyah will allocate 50% of the loan to women-led or owned businesses, focusing on regions outside Greater Cairo and Alexandria.
The second loan will be provided in two $2.5 million tranches and will be used in developing Tanmeyah’s agribusiness lending practice.
This is by providing on-lending to private MSMEs and granting incentives to sub-borrowers for GET-eligible projects.
At least 70% of the loan will be directed towards GET-eligible investments.
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