CHF- ELGF It's OPIC , Egypt Loan Guarantee Facility. OPIC will guarantee local currency loans by the Lenders to small and medium enterprises, micro finance institutions, non-banking financial institutions and other approved borrowers. This Project will have a positive developmental impact in Egypt by supporting local currency loans to SMEs and MFIs that lend to micro-borrowers in a variety of sectors. This Project is part of a loan guarantee facility in Egypt to spur growth in the SME sector, which, in this time of economic uncertainly, has limited access to capital. To support the success of this lending, CIB identifies areas of business needs at its client SMEs, and directs these companies to receive technical assistance subsidized under the Project. According to the EBRD, only about seven percent of SME working capital needs are funding through bank credit, and only six percent of all loans in Egypt’s entire banking sector are issued to MSMEs. The Project aligns with UN Sustainable Development Goals, including #1 (No Poverty), and #2 (Decent Work and Economic Growth)
