IFC backs MSMEs in Egypt via $100M loan to Banque du Caire

Updated 3/31/2024 6:13:00 AM
IFC backs MSMEs in Egypt via $100M loan to Banque du Caire

Arab Finance: The International Finance Corporation (IFC) is providing Banque du Caire with a $100 million loan, according to a disclosure by the IFC.

The loan will be used to support private-owned micro-, small-, and medium-sized enterprises (MSMEs) in Egypt, including women-led businesses.

Banque du Caire will receive the financing in the form of a five-year senior loan of up to $50 million and a 12-month uncommitted trade facility worth $50 million under the Global Trade Finance Program (GTFP).

The financing is set to be backed by Global SME Facility (GSMEF).

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