New International Funding to Support Small and Medium-Sized Enterprises in Egypt
GlobalCorp Financial Services has secured $15 million in funding, equivalent to approximately 795 million Egyptian pounds, from the European Bank for Reconstruction and Development (EBRD).
This new funding aims to enhance the company's ability to expand its loan portfolio directed toward small and medium-sized enterprises (SMEs) in the Egyptian market. These projects are a fundamental part of the local economy, as they contribute to creating new job opportunities and supporting economic growth.
This step comes within the framework of the EBRD's efforts to support the private sector in Egypt and provide the necessary financial liquidity for companies that need to expand and develop their businesses in light of current economic challenges.
It is expected that this financial support will contribute to improving the access of small and medium-sized enterprises to financing services, helping them increase their productivity and develop their services and products across various sectors.
This agreement is considered a positive step toward boosting investments in Egypt and underscores the confidence of international financial institutions in the stability and strength of the Egyptian financial sector and its ability to support sustainable development.