$6M loan granted to support young Egyptian entrepreneurs under EBRD’s YiB program

 The European Bank for Reconstruction and Development (EBRD) supports young Egyptian entrepreneurs by granting a $6 million loan to Reefy Microfinance Enterprise Services, the loan is granted under their youth in business program (YiB). 

EBRD’s Youth in Business Program (YiB) is dedicated to supporting privately owned microenterprises or young entrepreneurs under the age of 35. The program is mainly directed at supporting driven youth outside Cairo and Alexandria. 

In addition, the program aims to provide capacity building, advisory sessions, and financial support, and upscale the business skills and mindset of young entrepreneurs through non-financial services as well.