Egyptian Arab Bank, EFG Hermes to finance small businesses i...| MENAFN.COM

Wednesday, 29 June 2022 10:45 GMT

Egyptian Arab Bank, EFG Hermes to finance small businesses in Egypt


(MENAFN) The Egyptian Arab Land Bank and EFG Hermes Leasing ink a mutual venture deal in order to finance capital assets and equipment for small businesses in Egypt.

Meanwhile, the deal comes in line with the government's focus on SMEs and in help of the Central Bank of Egypt's initiative to increase financing to them.

In addition, the EGP50mn deal will offer the funding at low-interest-rate lease arrangements for small enterprises in the country.

Furthermore, the deal aims at capitalizing on the CBE's initiative to offer a healthy fiscal environment for small businesses.

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