Medical textiles company Lamatem secures US$7m loan from EBRD and EU

MOROCCO – Lamatem, a Moroccan producer of high-‎end ‎medical garments, has secured €6 million loan (US$7.05m) from The European Bank for Reconstruction and Development (EBRD) and the European Union (EU) to help the company increase its exports to European markets. The investment will help Lamatem to increase its supply of medical protective equipment and to offer a more diverse range of products, through the use of a state-of-the-art sterilisation machine, to local and European medical suppliers. Lamatem will also diversify its energy supply and boost the use of renewables, with…

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Banque du Caire secures US$100m financing from EBRD for on-lending MSMEs

EGYPT – Banque du Caire, a full-service bank, has secured US$100 million financing package from The European Bank for Reconstruction and Development (EBRD) for trade financing and on-lending to local micro-, small and medium-sized companies (MSMEs). The EBRD will provide a US$50 million loan to help Banque du Caire increase the amount of funding it makes available to Egypt’s MSMEs and support the bank in expanding its MSME lending outside the Greater Cairo region. The EBRD is also extending a US$50 million trade finance limit under the EBRD’s Trade Facilitation…

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EBRD approves US$497m additional funding for the next face of its Green Climate Fund

AFRICA – The European Bank for Reconstruction and Development (EBRD) has announced the approval of additional funding for the next phase of its successful large-scale partnership with the Green Climate Fund (GCF). The US$497 million fund will support thousands of individual investments in technologies that reduce emissions and enhance resilience to climate change. The new extension will help maintain momentum and continue scaling up gender-responsive green financing. It is estimated that the latest extension will avoid CO2 emissions of 800,000 tonnes per year, which is equivalent to retiring 125 MW…

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Tunisia’s electricity provider STEG secures US$361m from EBRD to support its stability

TUNISIA – Société Tunisienne de l’Electricité et du Gaz (STEG), Tunisia’s electricity provider, has secured US$361 million (€300 million) financing from the European Bank for Reconstruction and Development (EBRD) to support its stability. The financing package is meant to support the stability of Tunisia’s energy sector during the COVID-19 pandemic in the medium term. It will allow STEG to implement an ambitious corporate and climate reform roadmap that would anchor the shift towards a more sustainable and efficiently run company. The financing package will be accompanied by a detailed roadmap…

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EBRD provides US$1.21m to support construction of dry port and logistics centre in Egypt

EGYPT – European Bank for Reconstruction and Development (EBRD) has announced a €1 million (US$1.21m) contribution to support the construction of a dry port and logistics centre in 10th of Ramadan City, Egypt. The city was founded in the 1970s in close vicinity to the capital Cairo and is one of the most industrialized municipalities in the country. The new dry port is expected to improve the efficiency of Egypt’s transport infrastructure by reducing congestion at seaports and creating the conditions for accelerated customs processes and procedures. Facilitating trade will…

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STEG secures US$359m from EBRD to support the stability of Tunisia’s energy sector

TUNISIA – The European Bank for Reconstruction and Development (EBRD) provided a €300 million (US$359.89m) financing package to the Tunisian Electricity and Gas Company (STEG). The loan will support the stability of Tunisia’s energy sector during the coronavirus pandemic in the medium term, EBRD said in a statement. It will enable STEG to implement an ambitious corporate and climate reform roadmap that would anchor the shift towards a more sustainable and efficiently run company. The loan agreement was signed in Tunis between STEG’s CEO, Hichem Anane, and EBRD’s head of…

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Attijari Bank secures funding from EBRD to strengthen access to finance for MSMEs

TUNISIA – The European Bank for Reconstruction and Development (EBRD) has announced in a press release its plan to strengthen access to finance for Tunisian micro, small and medium-sized enterprises (MSMEs). The Bank is providing Attijari Bank of Tunisia with an unfunded risk-sharing guarantee of 50 per cent on a loan to Enda Tamweel, the leading microfinance institution in the country. Under the EBRD’s Risk Sharing Framework (RSF), Attijari Bank of Tunisia is extending a loan of up to TND20 million (US$7.33m) to Enda Tamweel for on-lending to local MSMEs…

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Arab Tunisian Lease secures US$6m EBRD loan to increase access to finance for MSMEs

TUNISIA – The European Bank for Reconstruction and Development (EBRD) is strengthening small businesses in Tunisia with a €5 million (US$6.13m) loan to Arab Tunisian Lease (ATL Leasing) to increase access to finance for micro, small and medium-sized enterprises (MSMEs). The loan is supported by the European Union (EU) under the EU Initiative for Financial Inclusion, a comprehensive programme to help MSMEs in the southern and eastern Mediterranean region to become more competitive and grow. It provides finance and know-how to boost development and create jobs. Small and medium-sized enterprises…

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TAQA PV secures US$4.2m loan from EBRD for expansion of renewable energy in Egypt

EGYPT – The European Bank for Reconstruction and Development (EBRD) has announced that it has provided an initial US$4.2 million loan to TAQA PV for Solar Energy, TAQA Arabia’s renewable energy subsidiary. EBRD said the loan will promote the expansion of renewable energy in Egypt by supporting one of the first green private-to-private projects in the country. The loan is part of a financing package of up to US$10 million to expand TAQA Arabia’s private-to-private renewable energy business, according to the statement. The funds will finance the construction and operation…

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EBRD, EU to help SolarizEgypt promote solar panels in Egypt

EGYPT – The European Bank for Reconstruction and Development (EBRD), through its Green Economy Financing Facility (GEFF), which is supported by the European Union (EU), has helped SolarizEgypt to promote solar panels in Egypt. According to EBRD, SolarizEgypt’s first impactful project materialised when the company received assistance in implementing the installation of a rooftop PV system for the Coca Cola Company. The GEFF’s support provided the company with the opportunity to receive finance from the QNB Al Ahli Bank, one of GEFF’s partner banks. Although the 1 MW PV system…

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