The European Union (EU) and the European Bank for Reconstruction and Development (EBRD) announce the  completion of the establishment of 500 small- and medium-sized enterprises (SMEs) in Egypt, Invest-Gate reports.

The move comes as part of the EBRD’s strategy to boost SMEs in Egypt with a view to boosting the national economy, creating more job opportunities and realizing sustainability, according to MENA.

“Supporting small- and medium-sized enterprises has always been EU’s priority to boost economic development in Egypt,” says Chargé d’Affaires of the EU Delegation to Egypt Reinhold Brender.