{"id":28799,"date":"2020-05-26T07:34:51","date_gmt":"2020-05-26T07:34:51","guid":{"rendered":"https:\/\/v2.ecomnewsmed.com.ecn-01.ovea.com\/2020\/05\/26\/egypt-cairo-bank-receives-100-million-eib-financing-to-finance-vses-and-smes\/"},"modified":"2020-08-26T16:14:52","modified_gmt":"2020-08-26T14:14:52","slug":"egypt-cairo-bank-receives-100-million-eib-financing-to-finance-vses-and-smes","status":"publish","type":"news","link":"https:\/\/www.ecomnewsmed.com\/en\/2020\/05\/26\/egypt-cairo-bank-receives-100-million-eib-financing-to-finance-vses-and-smes\/","title":{"rendered":"Egypt: Cairo Bank receives $ 100 million EIB financing to finance VSEs and SMEs"},"content":"\nThe state-owned Egyptian bank will use the loan to finance small and medium-sized enterprises (SMEs) in the manufacturing and services sector. The loan will strengthen the working capital needs of the beneficiary companies.\nThe conditions of eligibility of SMEs for this funding have not been specified. The transaction marks the second financing agreement between the EIB and the Bank of Cairo.\nOf all Egyptian SMEs with fewer than 100 employees, 55% work in the manufacturing industry. A large number of these companies are informal and have difficult access to external financing, underlines the EIB in a report of February 2020 entitled: &#8220;Banking in Africa: financing transformation amid uncertainty&#8221;.\n\nSource Agence Ecofin May 2020\n\n","author":15,"featured_media":26123,"comment_status":"open","ping_status":"open","template":"","tags":[5754,5751,5753,5750,6098,5762,6097],"location":[5600],"class_list":["post-28799","news","type-news","status-publish","has-post-thumbnail","hentry","tag-business","tag-economy","tag-entrepriseslife","tag-news","tag-sme","tag-trending","tag-vse","location-egypt"],"short_url":"https:\/\/bit.ly\/3hv2jI5","have_related_news":"done","chapo":"The European Investment Bank (EIB) has entered into a $ 100 million financing agreement with the Bank of Cairo. The terms and conditions for granting this line of credit have not yet been communicated.","media":{"src":"https:\/\/www.ecomnewsmed.com\/app\/uploads\/2020\/07\/cairo-skyline-550x360.png","srcset":"https:\/\/www.ecomnewsmed.com\/app\/uploads\/2020\/07\/cairo-skyline-550x360.png 550w","sizes":"550px","alt":"Egypt: Cairo Bank receives $ 100 million EIB financing to finance VSEs and SMEs","width":550,"height":360,"ratio":0.69,"credit_photo":""},"media-news-header":{"src":"https:\/\/www.ecomnewsmed.com\/app\/uploads\/2020\/07\/cairo-skyline.png","srcset":"https:\/\/www.ecomnewsmed.com\/app\/uploads\/2020\/07\/cairo-skyline.png 1170w","sizes":"1170px","alt":"Egypt: Cairo Bank receives $ 100 million EIB financing to finance VSEs and SMEs","width":1170,"height":658,"ratio":0.69,"credit_photo":""},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Egypt: Cairo Bank receives $ 100 million EIB financing to finance VSEs and SMEs - Ecomnews Med<\/title>\n<meta name=\"description\" content=\"The state-owned Egyptian bank will use the loan to finance small and medium-sized enterprises (SMEs) in the manufacturing and services sector. The loan\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ecomnewsmed.com\/en\/2020\/05\/26\/egypt-cairo-bank-receives-100-million-eib-financing-to-finance-vses-and-smes\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt: Cairo Bank receives $ 100 million EIB financing to finance VSEs and SMEs - Ecomnews Med\" \/>\n<meta property=\"og:description\" content=\"The state-owned Egyptian bank will use the loan to finance small and medium-sized enterprises (SMEs) in the manufacturing and services sector. 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