Championing small business in Egypt
In order to bolster the private equity industry in Egypt, the Bank invested US$ 20 million (€18.9 million equivalent) in the Ezdehar Egypt Mid-Cap Fund. The Fund focuses on investment in Egyptian SMEs in various sectors, including education, food and beverages, health care, manufacturing and retail. It seeks to support companies in realising ambitious growth plans.
The Fund achieved a first closure with commitments of US$ 85 million (equivalent to €80.5 million). The EBRD’s co-investors included the European Investment Bank, the Dutch development bank FMO, and CDC, the development finance institution of the UK, as well as Egyptian investors.