BRD & Fawry Back Youth Businesses With LE 250 Million Facility

European Bank for Reconstruction and Development and Fawry have launched a joint initiative to support youth-led businesses in Egypt, with a financing facility of up to LE 250 million.

The funding will be channelled through Fawry MSME Finance, which will on-lend to micro, small and medium-sized enterprises owned or led by entrepreneurs under the age of 35, with a focus on underserved and rural areas.

The facility is part of the EBRD’s Youth in Business programme and will be supported by first-loss risk cover of up to 10%. Eligible borrowers will also have access to European Union-funded cash incentives of up to 10% of their loan value, aimed at easing financing costs.

In addition to funding, the programme includes a technical cooperation package to support implementation, build institutional capacity and provide training in areas such as gender-responsive lending and digital transformation. Non-financial advisory support will also be delivered through the EBRD Advice for Small Businesses programme.

“This is our first partnership with Fawry, a digital leader in Egypt, and marks the start of a new cooperation to support local micro, small and medium-sized enterprises led or owned by young entrepreneurs,” Mark Davis said.

Fawry MSME Finance, established in 2018, operates as a digital microfinance platform supporting small businesses, while its parent company Fawry is one of Egypt’s largest fintech providers.

The programme is backed by the European Union and is designed to expand access to finance for young entrepreneurs, combining credit, grants and technical support to strengthen business growth and employment opportunities.