The European Bank for Reconstruction and Development (EBRD) has committed €15 million to Mediterrania Capital III Funds to boost small businesses in Egypt, Morocco and Tunisia.
This funding is part of the first close of Mediterrania Capital III LP (MC III), which could increase up to €35 million in subsequent closings, the EBRD said in a statement on its website.
“The EBRD funds will allow Mediterrania Capital to make equity and quasi-equity investments in SMEs in Egypt, Morocco and Tunisia to boost their competitiveness,” it said.
It follows a previous €20 million EBRD investment in the second fund of Mediterrania Capital Partners, MC II, to support SMEs in North Africa.
“Through our investments, we aim to help businesses flourish, promote innovation, growth and transparency, and ultimately improve the quality of people’s lives. We are very pleased to partner with Mediterrania Capital Partners once again. With their high ethical standards and strong transactional and operational experience in private equity, they continue to be a critical partner for us,” said EBRD President Sir Suma Chakrabarti.
Mediterrania Capital Partners invests in economies that benefit from pro-business policies, favorable demographics, a growing middle class with increased purchasing power and rapid urbanization trends.
