EBRD provides a loan to Tanmeyah up to $5.0 mn to support MSMEs

European Bank for Reconstruction and Development provides a senior unsecured loan to Tanmeyah Micro Enterprise Services ("Tanmeyah") under the Financial Intermediaries Framework ("FIF") of up to USD 5.0m (EUR 4.6m) equivalent in EGP. Envisaged tenor for the facility is 3 years including a 1 year grace period for principal repayment.

  This facility will enable Tanmeyah to further expand its lending to Egyptian MSMEs with a focus on underserved segments, whose access to finance remain restricted. The project will address financing gaps in the Egyptian market by allocating 50% of the EBRD's loan to women-led or owned businesses in a gender-responsive manner, building on the success of the WiB loan extended by the EBRD to Tanmeyah in 2019.

Furthermore, the project supports the Competitive and Inclusive TI qualities by facilitating: (i) an expansion of Tanmeyah's MSME lending, while supporting underserved segments whose access to finance remains limited; and (ii) channeling at least 50% of the loan amount to women-MSME with a focus on regions outside Greater Cairo and Alexandria.

It is worth mentioning that Tanmeyah Micro Enterprise Services SAE ("Tanmeyah" or the "Company") is one of the oldest and most well-established companies in the Egyptian microfinance market, with over 14 years of operations.

It has achieved rapid growth to become a leading entity in the field of working capital financing for low-income clients, being the 2nd largest company in terms of YE2022 outstanding portfolio, with ca. 11% market share and a total asset base of ca. EGP 4.4bn (USD 180m) as of December 2022.