In line with EBRD’s support for the development of micro, small, and medium enterprises in Egypt, and the leading role of QNB ALAHLI in Egypt regarding that field, EBRD offered a senior loan of $20m to QNB ALAHLI SAE for on-lending to local small businesses.
The loan is the first under EBRD’s new “Egypt Women in Business” programme, which aims to strengthen the role of women in the economy. It provides access to finance through credit lines to local banks, as well as business advice, training, and support for women entrepreneurs and women-led businesses.
Financing to QNB ALAHLI will be complemented by a technical cooperation programme to provide technical support to QNB ALAHLI and other partner financial institutions, through capacity-building and skill development to develop a better understanding and financial services tailored to the needs of women-led SMEs.
Mohamed El Dib, chairperson and managing director of QNB ALAHLI, stated, “We are pleased to continue our successful partnership with EBRD, aiming for the same goals and priorities in helping women entrepreneurs; further supporting the women in the Egyptian labour market; encouraging them to participate in the ownership, management, and development of various projects; and helping them to find the tools necessary to meet the challenges of the labour market.