Banque Misr secures $234 million from IFC to support SMEs

The International Financial Corporation (IFC) will provide Egypt’s Banque Misr with a $234 million loan to support small, and medium-sized enterprises (SMEs), with half of the funding allocated for women-led businesses.

The partnership will help create jobs, boost economic growth, and reduce the gender financing gap.

IFC’s loan to Banque Misr will catalyse job creation in Egypt through its focus on providing financing to micro and small businesses, which employ the vast majority of the country’s private sector workforce and is an important source of job creation in the country.

Source: Arabyia Capital