- EGP 700 million loan to Tasaheel to finance women-led businesses in Egypt
- Facility to expand access to finance for underserved women entrepreneurs in regions outside Cairo and Alexandria
- Technical assistance package to provide capacity building and business advice
The European Bank for Reconstruction and Development (EBRD) is boosting its support for women entrepreneurs in Egypt, with a loan of EGP 700 million (€13.2 million equivalent) to Tasaheel for Financing (Tasaheel), Egypt’s largest lender to micro, small and medium-sized enterprises (MSMEs).
Under the EBRD’s Women in Business programme, the loan will help increase access to finance for privately owned, women-led MSMEs, with a focus on regions outside Greater Cairo and Alexandria that are underserved by the banking sector. Alongside the loan, the EBRD will provide Tasaheel with a comprehensive technical cooperation package that will help introduce new financial products, tailored to the needs of women-led MSMEs, and improve access to finance. It will also include capacity-building activities for specialised lending and monitoring.
The EBRD’s Women in Business programme promotes the participation of women in the economy and provides financial, advisory, training and mentoring support to women entrepreneurs. The programme, which covers most sectors and industries, focuses on women-led small businesses with fewer than 250 employees and less than €50 million in annual turnover. This loan marks the EBRD’s third engagement in Egypt’s microfinance sector.
Tasaheel, a subsidiary of MNT Halan, is Egypt’s largest microfinance institution and a non-bank SME lender with a market share of approximately 26 per cent in the microfinance sector. Since its establishment in 2015, Tasaheel has continually enhanced its lending strategies and diversified its portfolio. The company began its digital transformation in 2020 and added SME financing services in 2021. Tasaheel operates in 25 governorates, with more than 700 branches and a commitment to the economic and social empowerment of women. It has served 2.2 million customers, with women accounting for approximately 62 per cent of the company’s clientele.
Tasaheel aligns with MNT Halan’s mission by prioritising financial services and tailored products for underbanked segments. The company focuses on fostering inclusion through empowerment, helping low-income earners and marginalised communities to generate higher incomes, improve their living standards, and support the development and economic growth of the wider community.
Egypt is a founding member of the EBRD. Since the start of the Bank’s operations there in 2012, the EBRD has invested almost €11.9 billion in 178 projects in the country. The EBRD’s areas of investment include the financial sector, agribusiness, and manufacturing and services, as well as infrastructure projects such as power, municipal water and wastewater services, and contributions to the upgrade of transport services.
