EBRD, ICD to launch $120m SME fund

May 4, 2014 10:33 am

A $120m fund is set to be launched by the European Bank for Reconstruction and Development (EBRD) and the private sector arm of the Islamic Development Bank to support small businesses in the southern and eastern Mediterranean region, Reuters has reported. The fund will extend financing to SMEs using equity and quasi-equity structures, with the two institutions contributing capital to the fund and seeking additional institutional investors and donors, said the ICD.