Small and medium-sized enterprises (SMEs) in Egypt will benefit from a US$ 100 million financing package from the EBRD to the National Bank of Egypt (NBE) under Resilience Framework (RF), the country's oldest and largest bank. The EBRD will be provided to under the Bank's Resilience Framework (RF), which was developed as part of the Bank's response to the COVID-19 pandemic. NBE will on-lend funds to local private small and medium-sized enterprises (SMEs) and corporates, supporting them in bridging the liquidity needs that may arise as a result of the outbreak. The financing will help NBE provide funding to SMEs and corporates experiencing either a decrease in their activity, turnover, and/or profitability. Egypt is a founding member of the EBRD. Since the start of its operations there in 2012, the Bank has invested over €5.5 billion in 102 projects in the country. In 2018 Egypt was the largest economy in which the EBRD invests, in terms of new commitments.
