IFC and Attijariwafa bank Egypt Partner to Support SMEs, Climate Finance
Egypt, Feb. 24 -- IFC and Attijariwafa bank Egypt (AWB Egypt) announced a partnership to bolster the Bank's capital position and help it deliver on its strategy to support small and medium-sized enterprises (SMEs) and the growth of climate finance in Egypt. This infusion of capital will directly enhance AWB Egypt's capacity to expand its lending activities.IFC's $20 million Tier 2 qualifying subordinated debt will boost AWB Egypt's capital base, increasing its capacity to finance the growth of SMEs, with a focus on women-owned enterprises. A stronger capital base provides AWB Egypt with greater financial flexibility and allows it to pursue strategic initiatives with increased confidence. IFC's funding and technical assistance will also allo...
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