MSMEDA & AAIB Sign EGP 150M Deal to Boost MSME Lending in Egypt

Egypt’s small business sector just landed a major cash injection, and this time, industry is front and center.

So what is happening? The Arab African International Bank (AAIB) inked a new EGP 150 million financing agreement with the Micro, Small, and Medium Enterprise Development Agency (MSMEDA) to finance to SMEs across Egypt. 

The focus? Productive, export-oriented, and industrial businesses that can generate jobs and growth. It will also focus on new projects and women-owned businesses.

This falls under Prime Minister Mostafa Madbouly’s directives to expand the financing for MSMEs. This is to increase production, create job opportunities, and contribute to developing the national economy. Furthermore, the move comes as Egypt pushes to localize industry and expand productive capacity.

MSMEDA has been ramping up efforts to work with banks and institutions to decentralize access to finance. With a focus on underserved areas and marginalized groups.

What’s next? With a portfolio that’s already topped EGP 10 billion and grown 4x, the AAIB is betting on local entrepreneurs, especially those outside the capital.