The European Bank for Reconstruction and Development (EBRD) is expected to provide a senior unsecured debt facility of $20 million to the Commercial International Bank Egypt (CIB) (COMI) to support private small- and medium-sized enterprises (SMEs) led by women, Arab Finance reports.
EBRD, media notes, indicated that the loan facility is subject to approval by June 9th.
CIB is Egypt’s largest private bank, with total consolidated assets of $32 billion as of December 2021.
The EGX-listed bank provides banking services across the country through more than 200 branches and units. The bank’s segments include corporate banking, investment banking, retail banking, treasury and capital market services, and others.
EBRD to lend Egypt’s largest private bank $20m to back female-led companies
