The European Bank for Reconstruction and Development (EBRD) has notably enhanced its support for women entrepreneurs in Egypt by providing a loan of EGP 700 million (around €13.2 million) to Tasaheel for Financing. Tasaheel stands as Egypt’s largest lender to micro, small, and medium-sized enterprises (MSMEs).
This loan, which is a component of the EBRD’s Women in Business programme, aims to facilitate access to finance for women-led MSMEs, especially in areas outside of Greater Cairo and Alexandria that are usually underserved by banks. In addition to financial assistance, the EBRD will offer Tasaheel an extensive technical cooperation package. This initiative is intended to introduce innovative financial products designed for the needs of women-led MSMEs and to improve lending and monitoring capacities through capacity-building efforts.
The EBRD’s Women in Business programme fosters the active involvement of women in the economy by providing financial, advisory, training, and mentoring assistance. The programme targets small businesses with fewer than 250 employees and an annual turnover below €50 million. This recent loan represents the EBRD’s third engagement in Egypt’s microfinance arena.
Tasaheel, a subsidiary of MNT Halan, is a leader in Egypt’s microfinance sector, claiming a 26% market share. Since its launch in 2015, Tasaheel has continuously improved its lending practices and diversified its offerings, which included a digital transformation in 2020 and the introduction of SME financing services in 2021. Operating in 25 governorates with over 700 branches, Tasaheel has catered to 2.2 million customers, with women constituting around 62% of its client base.
Egypt has been a member of the EBRD since 2012, with the bank investing nearly €11.9 billion across 178 projects in diverse sectors throughout the country.
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