The head of the EU delegation to Egypt, Ambassador Ivan Surkoš reported the European Union (EU), with support from European financial institutions will provide €475 million in loans to support SMEs. 

EU launched the ‘EU Facility for Inclusive Growth and Job Creation,’ which aims to provide an environment of business creation and economic development and generate jobs by supporting enterprise growth and competitiveness, according to the article. 

Ambassador Surkoš shared, “a significant amount of EU funds will be channelled through grants to support key stakeholders in dealing with SME development and will strengthen the ecosystem for innovation among SMEs.”