Banque Misr secures US$521m credit line from EIB to support local private SMEs

EGYPT – The European Investment Bank (EIB) has provided Egypt’s Banque Misr with a €425 million (US$521.50m) credit line to support local private small and medium-sized enterprises (SMEs) that have been affected by the COVID-19 pandemic, EIB stated in statement. The new facility aims at boosting the SMEs’ ability to lead Egypt’s economic growth. It is also is expected to finance investment projects, and working capital needs, in productive and service sectors, thus sustaining growth and employment while helping to mitigate the economic and social impact of the COVID-19 crisis,…

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EBRD and EIB to invest US$24m in Amethis Mena Fund II for SMEs in MENA zone

MENA – Amethis, the investment fund manager dedicated to the African continent, is preparing the first fundraising operation for its new investment vehicle, Amethis Mena Fund II. This first closing is announced for the first quarter of 2021. The Luxembourg registered Amethis Investment Fund Manager is an Alternative Investment Fund Manager (AIFM) and dedicated to projects and investments in Africa. It has €725 million (US$878.51 million) of assets under management. Two international financial institutions have already indicated their intention to invest in this vehicle, which targets medium-sized companies and fast-growing…

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