The African Development Bank is investing €20 million ($28.38 million) in the Maghreb Private Equity Fund III, which finances activities to promote the development of small and medium-sized enterprises in Algeria, Tunisia, Libya, Morocco and Egypt.
MPEF III is a 10-year fund that aims to raise up to €130 million. It targets family-owned SMEs across different fields, with a focus on companies that manufacture products for export and those planning to expand at a regional level.
Read more development aid news online, and subscribe to The Development Newswire to receive top international development headlines from the world’s leading donors, news sources and opinion leaders – emailed to you FREE every business day.