The International Finance Corporation (IFC) has vested a $150 million financing package to Egypt's Commercial International Bank (CIB) to boost support for micro, small, and medium enterprises (MSMEs), with particular emphasis on women-owned businesses.
The initiative aims to address Egypt's $46 billion MSME financing gap, targeting a sector representing 98% of Egyptian companies and contributing over 40% to the country's GDP, yet facing funding challenges that limit growth potential.
The partnership builds on IFC's existing collaboration with CIB, which includes supporting Egypt's first private sector green bond issuance in 2021 and developing a climate risk management framework in 2023.
