Summary sheet
The project consists of an equity participation in Sawari Ventures Fund I, a USD 50m (EUR c. 42.7m) regional venture capital fund investing in growth and seed stage innovative businesses mostly in Egypt, and to a lesser extent in Tunisia and Morocco.
The fund aims to generate a return on investment for its investors coupled with a significant developmental impact, given: - its focus on young businesses providing innovative products and solutions; - its potential to create quality jobs especially for younger generations; - its provision of growth financing to SMEs principally in Egypt, but also, in Tunisia and Morocco; - its provision of seed stage financing through a local affiliated accelerator; - its financial and technical support to innovative businesses.
The fund's investment guidelines will provide for procurement guidelines acceptable to the Bank.
N/A
The proposed operation would be fully in line with EU policies regarding the financing of SMEs in the MENA region. The fund will support strategic priorities, in terms of increasing access to finance and employment creation by promoting private sector development as well as stimulating innovative ICT solutions that support local communities, boost growth and retain young talent.
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They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).
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