The European Bank for Reconstruction and Development provided Europack with €1.78 million to launch its small and medium financing programme in Egypt, according to a statement from the Bank published on Tuesday.

An Egyptian tin packaging manufacturer, Europack will develop packaging for environmentally dangerous goods in accordance with the United Nations standards to acquire the organisations' certifications needed for export markets to ultimately grow their business.

The loan is part of the EBRD initiative for small and medium enterprises, which the Bank defines as businesses with turnover under €50 million.

Since the launch of its activities in Egypt in 2012, the EBRD has invested over €1.7 billion in the country through 33 projects.