EBRD Approves EGP 80 Mln to Finance "Women in Business" Program

The European Bank for Reconstruction and Development (EBRD) has approved a financial contribution worth EGP 80 million for a microfinance company within the framework of the Women in Business program.

Minister of International Cooperation Rania el Mashat said in remarks on Wednesday that the EBRD's development finance reflects the strategic partnership between the Egyptian government and the Bank to support development efforts in the country.

She pointed out that the involvement of women in the labor market is one of the main drivers of sustainable development and growth.

Mashat pointed out that development finances, which are provided by multilateral and bilateral development partners, are important for achieving the State's strategy to empower women, support female entrepreneurs and enhance their role to reach full and sustainable economic growth.

She noted that such partnerships with development partners not only provide financial services but also provide technical support that enables female entrepreneurs to increase their businesses on an ongoing basis.